link : Pentagon Projected To Hand $407 Billion to Private Military Contractors In 2022
Pentagon Projected To Hand $407 Billion to Private Military Contractors In 2022
Because ~55% of military spending goes to contractors, arms companies will likely get more money from Biden’s Pentagon budget than the public got through his $1,400 stimulus checks: https://t.co/Tbh8X4gOIn pic.twitter.com/u7u8kLh6LL
— Stephen Semler (@stephensemler) December 30, 2021
Common Dreams: Pentagon Projected to Hand $407 Billion to Private Military Contractors This Fiscal Year
"There are over 700 lobbyists representing for-profit military contractors in D.C., and this redistribution of wealth is why they're there."
President Joe Biden signed a record-shattering military budget earlier this week, and a new analysis published Thursday predicted that if recent contracting trends continue, the Pentagon will funnel $407 billion worth of public funds to private weapons makers this fiscal year—more than the federal government spent when sending $1,400 relief checks to most Americans in 2021.
Stephen Semler, co-founder of the Security Policy Reform Institute, found that "from fiscal year (FY) 2002 to FY2021, 55% of all Pentagon spending went to private sector military contractors."
"If the privatization of funds rate over the last 20 years holds," Semler noted, "it means [the] military industry will get about $407 billion from Biden's first military budget—$16 billion more than the $391 billion those $1,400 stimulus checks cost the government earlier this year."
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