The USA Today reports that "Global military spending continued to decline last year. Although arms expenditure has actually increased in much of the world, military spending in the United States — which still accounted for 37% of total global military spending in 2013 — has declined in recent years."
"The Stockholm International Peace Research Institute (SIPRI) measures annual military spending for most of the world's armed countries. According to SIPRI, the U.S. spent $618 billion on its military last year, more than three times the $171 billion budget of second place China. Based on SIPRI's 2013 data, these are the countries with the largest military budgets."
"According to Dr. Sam Perlo-Freeman, senior researcher and head of the SIPRI Project on Military Expenditure, austerity measures account for the majority of the declines in military spending, particularly in Western Europe."
"In the U.S., lower military spending was partly the result of efforts to reduce the deficit, but mostly due to the withdrawal from Iraq and Afghanistan. Since the peak of U.S. military expenditure in 2010, military spending has fallen 14% amidst growing concerns about the national debt. Similarly, the United Kingdom has dramatically reduced military expenditures following Prime Minister David Cameron's call for financial responsibility."