Global military spending rose 3.5 percent last year to $1.2 trillion as U.S. costs for operations in Iraq and Afghanistan mounted, a European research body said on Monday in an annual study. The United States spent $529 billion, slightly less than the entire GDP of the Netherlands, on military operations in 2006, up 5 percent over the previous year, the Stockholm International Peace Research Institute (SIPRI) said in its latest year book. Full Story
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