For the sixth year in a row, global military spending increased, buoyed by the American occupation of Iraq. Worldwide military spending rose by 5 percent to reach US$1.04 trillion, according to the Stockholm International Peace Research Institute. US military spending accounts for nearly half of the global total with an expenditure of US$455 billion.
Meanwhile, Bush and Tony Blair have been squabbling over a few billion dollars in aid for Africa. While Blair proposes that foreign aid to Africa should be double to $50 billion, Bush announced his own, made-in-America plan for African aid — a paltry $674 million in funds that had already been approved by Congress.
$25 billion in new spending, versus half a billion in old money. It’s good to see that these two allies are on the same page when it comes to foreign affairs.