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News Link • Military Industrial Complex

Why the United States of America is Broke

• GlobalEconomicAnalysis.blogspot.com
 
While this graph puts the US defence budget at $US711 billion in 2009, that doesn't include a number of "off-budget" items that, on some estimates, push US defence spending above $US1.3 trillion. And yet, America continues to drown in debt with only modest efforts to reign in how much it puts towards guns, tanks and missiles. Now, being the world's superpower invariably comes with a large military budget and sure some cash can go missing. But in 2002, then Defence Secretary Donald Rumsfeld admitted that on some estimates the Pentagon had lost track of $US2.3 trillion in transactions and there was no way of ascertaining how the money was spent. How long will it be before the US really does something about its own military spending problems?

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