Business booms for US defence contractors on Pentagon spend

[maddezmom]

Published: Sunday, 21 August, 2005, 10:54 AM Doha Time

NEW YORK: US defence contractors are riding high these days, buoyed by rising Pentagon spending on the wars in Iraq and Afghanistan as well as the high cost of homeland security in the US-declared war on terror.

The fiscal 2006 defence budget is set to climb to $441bn, an increase of $21bn over 2005. It envisions an additional $50bn for the wars in Iraq and Afghanistan.

Congress plans to approve $79bn for weapons systems procurement and about $69bn for military research and development.

Lockheed Martin, Boeing, Northrop Grumman, Raytheon, General Dynamics, Honeywell and United Technologies have all done well in the first half of this year and have a huge backlog of orders. With President George W Bush and Congress ready to spend, they can expect robust sales for years to come.


more:http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=49442&version=1&template_id=48&parent_id=28

[whistle]

1. Spending based on pure waste and corruption....

http://lexrex.com/enlightened/articles/warisaracket.htm

[teryang]

2. The current national security policy is a self inflicted wound...

...from which the body politic will never really recover.

The bushes and their social register ilk have made their fortunes from war profiteering, generation after generation. When will people learn?

See Kevin Phillips book, American Dynasty.

[OneBlueSky]

3. and it's all money we don't have . . . they've raised deficit spending . .

to a high art . . . our grand children's grandchildren will be paying for BushCo's profligacy . . . assuming, of course, that the country still exists when they start paying taxes . . .

[Uncle Joe]

4. I wonder how G.E. is doing?, they own NBC

and NBC is definitely pro-war, pro corporate in their coverage.