Though famously large, American military spending has been falling dramatically during Boomer tenure. Nominal defense spending is about $600 billion, but measured as a fraction of GDP, defense spending has fallen from an average of 7.9 percent of GDP from 1950 to 1985 to 4.1 percent during the following three decades of Boomer domination. Cuts and sequestration have driven recent spending even lower, to about 3.2 percent of GDP in FY 2016, projected to fall to 2.6 percent by 2026.
