While so many Americans struggle to get by, the US is spending record-breaking amounts of money on the military.
By Bernie Sanders, The Guardian
Today, in the United States, 60% of our people live paycheck to paycheck, 85 million people are uninsured or underinsured and 21.5m households are paying more than 50% of their income on housing. We have one of the highest rates of childhood poverty of almost any developed country on Earth, and 25% of older adults are trying to survive on $15,000 a year or less. In other words, the US has fallen far behind other major countries in protecting the most vulnerable, and our government has failed millions of working families.
But while so many Americans are struggling to get by, the United States is spending record-breaking amounts of money on the military. In the coming days, with relatively little debate, Congress will overwhelmingly pass the National Defense Authorization Act, approving close to $900bn for the Department of Defense (DoD). When spending on nuclear weapons and “emergency” defense spending is included, the total will approach $1tn. We now spend more than the next nine countries combined.
I don’t often agree with Elon Musk, but he is right when he says the Pentagon “has little idea how its annual budget of more than $800bn is spent.” The Department of Defense is the only government agency that has been unable to pass an independent audit. It recently failed its seventh attempt in a row and could not fully account for huge portions of its $4.126tn in assets.
Very few people who have researched the military-industrial complex doubt that there is massive fraud, waste and cost over-runs in the system. Defense contractors routinely overcharge the Pentagon by 40% – and sometimes more than 4,000%. For example, in October, RTX (formerly Raytheon) was fined $950m for inflating bills to the DoD, lying about labor and material costs, and paying bribes to secure foreign business. In June, Lockheed Martin was fined $70m for overcharging the navy for aircraft parts, the latest in a long line of similar abuses. The F-35, the most expensive weapon system in history, has run up hundreds of billions in cost overruns.
Today, as a result of massive consolidation in the industry, a large portion of the Pentagon budget now goes to a handful of huge defense contractors like Lockheed Martin, RTX, General Dynamics and Northrop Grumman. That consolidation has been extremely profitable for the industry: since 2022, these four contractors have brought in $609bn in revenues, including $353bn in US taxpayer funds, and recorded $57bn in profits. During that same period, they have spent $61bn on dividends and stock buybacks to make their wealthy stockholders even richer.
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