"You're assuming that huge military expenditures are necessary to peace and security."
Absolutely I am. I don't know what the right amount of spending is, but I do know if we don't spend enough, the potential downside is limitless.
How much are those much-maligned government employees and contractors diligently working on missile defense to keep the nutball in Pyongyang from nuking our west coast worth? Billions. Priceless if you're in Seattle or San Francisco.
If a regional war breaks out in the Middle East, the Iranians will try to close the Straits to stop the flow of oil. The US Navy will thwart their efforts, decisively, averting a worldwide recession/depression. How much is that worth to the world economy? Incalculable.
Yup, those DOD employees, real leeches, they are. No value to the taxpayers whatsoever.
In 1944, the last time we were fighting a war for the survival of civilization, defense spending peaked at 43.7% of GDP. During the Cold War, it averaged 7.5% of GDP. In 2005, defense spending was 3.9% of GDP. Anyway you look at it, a bargain.