In the year 2018 the effects of global heating cost the world about $85 billion. The United States suffered at least half of this damage. The hurricane Florence cost $19 billion in the Carolinas and Michael about $15 billion in Florida. Estimated damage of the Camp and Woolsey fires in California is about $10 billion. According to London-based Christian Aid’s report droughts cost Europe $7.5 billion, Australia about $7.4 billion, Argentina $6 billion, and Cape Town in South Africa $1.2 billion. Floods cost China $9.3 billion and India $3.7 billion, and damage from the Typhoon Mangkhut was about $1.5 billion in the Philippines and China.
The estimated expenses of the United States military for the fiscal year 2018 were about $874 billion by the departments of Defense, Homeland Security, and Energy (nuclear weapons).
The Watson Institute at Brown University estimated that from October 2001 to October 2018 the US wars in Afghanistan (& Pakistan) and Iraq have cost the United States about $4.8 trillion and have caused nearly 500,000 deaths which includes more than 250,000 civilians, about 112,000 opposition fighters, 6,951 US soldiers, 7,820 US contractors, and 1,464 allied troops. They also found that an additional 800,000 people died because of indirect costs of the wars such as disease and malnutrition. Since military spending is financed by loans the future interest on this debt could exceed $8 trillion by the 2050s.
Yet I believe that by ending such wars and greatly reducing military spending while making taxes much more progressive we could pay off the national debt and avoid most of those interest costs. We would also be avoiding the massive deaths and misery from wars caused by US imperialism that are unnecessary to maintaining American security.