While most nations have reduced their military spending—including Russia, which has cut its military spending from $300 billion in 1988 to $45 billion today—the U.S. continues to divert vast sums of our tax dollars to increase military spending. The 2003 military budget of $414 billion is almost equal to the $451 billion that the rest of the world combined spends on defense, and 18 times more than the $22 billion spent by China.