Yes, but we in the US we spend most of that money in the military. Just look at Russia-Ukraine, we are keeping the war going instead of starting peace talks.
If you pay attention to where the money is going you can see that it is not effecting the wealthy, infact it is helping them as always, while the rest of the world is in shite.
The US has a lot of influence in the world, we need to raise our standards because the status quo only prolongs the suffering of the people.
Many countries are seeing a rise in strikes and riots, they are not happy with the world as it is.