Here's a useful new report  from the International Peace Bureau. Globally, the report finds, spending on war preparations is higher than ever as an absolute amount and as a percentage of public spending (if not as a percentage of GDP). This spending is led and dominated by the United States, which of course pressures other nations to try to keep pace. The United States also dominates the manufacture and sale of weapons to other nations.
The figures that the IPB uses admittedly leave out many types of military spending. In fact, they capture less than 60% of U.S. military spending. So, the conclusions are all extremely "conservative" -- that is to say: dramatically wrong. Without knowing how much of other nations' war preparations spending is missing, one cannot do the calculations correctly. Nonetheless, IPB's conclusions are stunning and include these:
--the world's military spending is 12.7 times higher than its official development assistance, and
--604 times higher than UN budgets for peace, security, development, human rights, humanitarian affairs, and international law, and
--2,508 times higher than the combined expenditures of the UN's International Disarmament and Non-Proliferation Organizations.
--the war preparations spending of the world is $249 per day per person on earth. [UPDATE: This cannot be correct.]
--about 5% of that would meet the UN's Millenium Development Goals by 2015.
In other words, war spending does not just generate the well-known Military Industrial Complex's pressure for more war, which takes more lives, but the failure to use a little of that money for something useful means the failure to save and improve countless lives as well. Our budgets are at once sins of commission and omission. The millenium goals  are goals for ending poverty and hunger, providing education, and protecting health, sustainability, and human rights.
There may not be a war on Christmas, but if our "leaders" have their way there will be several wars on Christmas, and we're paying for them in several senses of the word.
Peace on Earth. Pass the ammunition.