Trump Wants 50% More US Defense Spending. Who Benefits?
The Financial Times dutifully reports former President Trump's proposal for a 50% boost to US defense spending. Conveniently omitted from this discourse is the consistently bipartisan enthusiasm for inflating the defense budget, often fueled by substantial lobbying efforts. For example, defense contractors like Lockheed Martin and Raytheon spent a combined $27 million on lobbying in 2023 alone,
according to OpenSecrets – money well-spent, it seems, given the endless, ever-expanding 'threats' that require an ever-expanding arsenal. One might wonder if this proposed half-trillion-dollar increase will finally solve America's crumbling infrastructure, provide universal healthcare, or perhaps educate its children. Or, will it simply guarantee another decade of record profits for the
military-industrial complex and continuous 'humanitarian interventions' abroad? It appears some industries are recession-proof, especially when their top salespersons occupy the highest offices.