The world's leading military power increased its defense spending by 5.7% last year, sustaining the figure at a generous 3.4% of GDP and making up 37% of the total global outlay.

President Trump's focus may be on protecting the US rather than acting as the planet's policeman, but he is seeking to boost the Pentagon budget, proposing a $1.01 trillion package for the 2026 fiscal year. The POTUS' future plans include a Golden Dome missile shield defense system to cover the entire country that could cost as much as $542 billion.

Now discover the countries that own the most gold, ranked

Liked this? Click the Like button above. And click the Follow button above for more great stories from loveMONEY

What America REALLY spends on defense, how it compares