04 May 2005
US defence budget will equal ROW combined "within 12 months"By Guy Anderson Editor of Jane's Defence Industry
Defence expenditure in the US will equal that of the rest of the world combined within 12 months, making it "increasingly pressing" for European contractors to develop a "closer association" with the US, corporate finance group PricewaterhouseCoopers (PwC) says.
Its report - 'The Defence Industry in the 21st Century' by PwC's global aerospace and defence leader Richard Hooke - adds that "the US is in the driving seat", raising the prospect of a future scenario in which it could "dominate the supply of the world's arms completely".
The US defence budget reached US$417.4 billion in 2003 - 46 per cent of the global total.
Less than two per cent of the US defence budget is spent outside its home market, the report notes, and of this around one per cent goes to UK contractors.
http://www.janes.com/defence/news/jdi/jdi050504_1_n.shtmlI guess that explains this:
Rebuilding needs, here and there
By Arnaud de Borchgrave/ Harlan Ullman
April 3, 2006
By the end of this year, the U.S. will have spent almost half a trillion dollars on Iraq since the 2003 invasion. This could easily double by the time the U.S. successfully nurtures a new Iraqi democracy to viability, including returning basic services such as water, electricity and transport even to pre-war levels. To paraphrase the late great Sen. Everett Dirksen of Illinois, that is getting to be "real money."
Meanwhile, as we "rebuild" Iraq, what is happening here to our own society and its infrastructure?
From hospitals to bridges, highways, roads and streets, mass transit systems, power grids, drinking water systems and hospitals and health care facilities, America is in a sad state of disrepair. One third of all bridges are deemed "structurally deficient" by the American Society of Civil Engineers. U.S. infrastructure thus gets a falling "D" grade, down from D+ five years ago. Estimated costs to put America's infrastructure back on its feet: $1.6 trillion.
According to the U.S. Conference of Mayors, 75 percent of America's school buildings are "inadequate" to meet the needs of school children. Some $300 billion are needed to bring school plants and teaching faculties up to scratch. The country's 16,000 wastewater systems face a $12 billion shortfall for infrastructure needs, not counting funding to protect from terrorist attack. Some sewer systems are over 100 years old. As Katrina demonstrated, our domestic infrastructure problems are a lot more urgent than the meritorious attempt to democratize 25 million Iraqis.
http://www.washtimes.com/commentary/20060402-112825-9830r.htm