Spot The Odd One Out: US Defense Spending By President

Since 1997, U.S. defense spending has moved through multiple cycles, but the long-term trajectory is upward.

This chart, via Visual Capitalist’s Bruno Venditti, tracks National Defense (Function 050) budget authority in constant 2025 dollars and shows how totals changed under each president and party, culminating in a proposed record $1.5 trillion budget for 2027P.

Data is sourced from the Office of Management and Budget (OMB) Historical Tables, Table 5.1 (National Defense budget authority), supplemented by Reuters reporting for the 2027 proposal. It also leverages analysis from the Council on Foreign Relations.

Steady Growth Through the 2000s and 2010s

In the late 1990s, under President Clinton, U.S. defense spending sat around the mid-$500 billion level in real terms.

Spending rose significantly in the 2000s during the Bush years amid the wars in Afghanistan and Iraq, reaching levels above $900 billion before 2010.

Continued high budgets carried throughout the Obama administration, driven by ongoing post-9/11 commitments and modernization efforts.

Fiscal Year
Real Budget (2025$)
President
1997
$542B
Clinton
1998
$535B
Clinton
1999
$564B
Clinton
2000
$569B
Clinton
2001
$609B
Bush
2002
$648B
Bush
2003
$798B
Bush
2004
$837B
Bush
2005
$834B
Bush
2006
$888B
Bush
2007
$971B
Bush
2008
$1.04T
Bush
2009
$1.05T
Obama
2010
$1.06T
Obama
2011
$1.03T
Obama
2012
$955B
Obama
2013
$843B
Obama
2014
$846B
Obama
2015
$813B
Obama
2016
$837B
Obama
2017
$862B
Trump
2018
$931B
Trump
2019
$938B
Trump
2020
$963B
Trump
2021
$902B
Biden
2022
$922B
Biden
2023
$908B
Biden
2024
$905B
Biden
2025
$962B
Trump
2026
$962B
Trump
2027 (proposed)
$1.5T
Trump

Recent Trends and Record Levels

In the early 2020s, spending remained high under Presidents Trump and Biden, with budgets around $900 billion to over $1 trillion in real terms. The 2026 defense budget approved by Congress reached $901 billion, while proposals for 2027 have pushed that figure even higher.

Recently, President Donald Trump announced a proposal for a $1.5 trillion military budget in 2027, representing roughly a 50% increase over current levels, aimed at expanding capabilities and accelerating modernization.

If you enjoyed today’s post, check out America’s $38 Trillion Mountain of Debt on Voronoi, the new app from Visual Capitalist.