SIPRI: Military Spending Contines to Rise
According to the annual report from the Stockholm International Peace Research Institute, military spending continued to increase around the world in 2005.
Total spending rose internationally by 3.4 percent, with the United States accounting for 48 percent of all military expenditures. SIPRI attributes part of the global increase to the higher price of oil, which boosted government revenues and freed up funds for countries like Russia, Saudi Arabia, and Algeria.
The Swedish think tank also says the increased number of peacekeeping missions threatens to overextend the United Nations and other international organizations.