Defense Spending as Percentage of GDP Well Below Historical Average

Conn Carroll /

Lost in all the typical liberal hyperventilating over increased defense spending during the wars in Iraq and Afghanistan, is just how low current defense spending compared to the last 45 years. The Heritage Foundation recently released its 2008 Federal Revenue and Spending Book of Charts and among the many gems is this graphic on National Defense Spending as a Percentage of GDP from 1962-2007: