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US Military Contractors Celebrate Record High Profits
When Congress passed the budget cuts in 2011 known as the sequester, the CEOs of defense companies repeatedly warned of widespread job and wage losses resulting from the proposed cuts. But six months after the sequester officially kicked in, the seven major military contractors are celebrating record profits, and their stocks are near all-time highs. In addition, the future looks just as bright as their backlog of orders is nearly as large as the total $37 billion in defense cuts.
Joining the Real News Network to discuss this is Dina Rasor. She's an investigator, journalist, author of several books. She writes the Solutions: Making Government Work column for truth out, but this year is Truthout's acting director executive director. Rasor has been fighting waste while working for transparency and accountability in government for three decades.