Greg Scoblete summarizes a study:
According to a new report from the International Institute for Strategic Studies, Saudi Arabia devotes the greatest percentage of its GDP (some 10.5 percent) to defense. The U.S. comes in second at a little over 4.5 percent. China sizes up at under 2 percent of its GDP. The U.S. continues to spend the most in absolute dollars, accounting for 60 percent of the world's total defense spending.
The Economist graphs these numbers.
The Dish 