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Defense spending rose to about $900 billion in 2003, approaching the trillion dollar levels of the late Cold War. The $900 billion figure is an eleven percent increase over 2002. Most of this increase came from the extra spending for the American invasion of Iraq. The United States accounts for 44 percent of all defense spending on the planet. The data is compiled by he Stockholm International Peace Research Institute (SIPRI), which has accurately covered arms transfers and weapons spending for decades. 

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