07.09.12
War profiteers do their thing
The looming $500bn US defence budget cut is already paralysing company investment and hiring decisions and would have a devastating effect if it came into force at the start of next year, defence industry executives warned on Sunday.
Dennis Muilenburg, president and chief executive of Boeing Defense, Space and Security, the US’s second largest defence contractor by sales, said on the eve of the Farnborough Air Show: “Sequester will have a devastating impact …???
So far the industry has been cautious about offending its biggest customer, with many of its warnings coming from Bob Stevens, chief executive of Lockheed Martin, who will retire before any sequester would come into effect …
The message from industry is that defence cuts mean lost jobs.
Here’s the story over the last few years. Any government “stimulus” is bad and doesn’t create jobs, which is a lie, but bear with me. But all government “stimulus” that goes to arms manufacturers is necessary and good, so we don’t shed jobs.