With all do respect Robert, that is completely wrong. US military spending as a percentage of GDP was higher than current spending, including the Iraq and Afghan wars, for virtually the entire Cold War.  During WWII it was much higher - almost 40% of GDP.

see the data here for the period through FY 2003.

What is new this time is that starting in the 1990's there was no enemy, but the military continued to grow anyway. Threats have been exaggerated or manufactured in order to justify the continuing level of spending.

I'm sorry, Robert.  You may want to believe this, since it jives with your "Crumbling of America" view, but this, too, is demonstrably false, if you follow Marek's link.  As a percentage of GDP, military spending steadily declined during the 1990s.  In fact, it appears to have declined in every year from 1993 to 1998, and then flatlined from 1999 to 2001 at 3% of GDP.  Military spending has not approached 10% of GDP since the late-1960s.  Even Reagan never went above 6.2%.

Even as a percentage of discretionary spending, the military budget fell in every year from 1987 to 2001, and is still not incredibly high by historical standards -- though, in fairness, the numbers I have only go as far as 2003.

Be nice to America. Or we'll bring democracy to your country.