By SocProf.

That is what the world spends on military for 2012 (a slight 0.5% decrease):

And as we can see, the US accounts for a little under half of that total amount, far above any other country in the world, including China (about 10%).

This makes pretty clear that, out of Michael Mann’s typology of power, military power is the only real one left to the US. So, we should not expect significant reductions in military spending even though there were some under the Obama administration.