That's right, we Americans spend more on our military than all other countries (with any significant military) combined. And the total is roughly equivalent to a major banking bailout (that magic $700 billion number) every year.
Now, I'm all for the soldier/veteran, and I think they deserve the best salaries and benefits in the world. What I'm not for is the ridiculous level of spending on outdated weapons systems, horrendously large nuclear weapon stockpiles, single-source and no-bid contracts, and the whole military-industrial complex and its abhorrent pricing policies. Oh, and throw in private contractors, too! There is no reason we should be spending this much on "defense" unless we are planning to go to war with the rest of the world, including our allies. I certainly hope that's not the plan.