Sunday, July 31, 2016

The Obama Administration Has Brokered More Weapons Sales Than Any Other Administration Since World War II

The numbers should stagger anyone. According to the latest figures available from the Congressional Research Service, the United States was credited with more than half the value of all global arms transfer agreements in 2014, the most recent year for which full statistics are available. At 14 percent, the world’s second largest supplier, Russia, lagged far behind. Washington’s “leadership” in this field has never truly been challenged. The US share has fluctuated between one-third and one-half of the global market for the past two decades, peaking at an almost monopolistic 70 percent of all weapons sold in 2011. And the gold rush continues. Vice Admiral Joe Rixey, who heads the Pentagon’s arms sales agency, euphemistically known as the Defense Security Cooperation Agency, estimates that arms deals facilitated by the Pentagon topped $46 billion in 2015, and are on track to hit $40 billion in 2016.

To be completely accurate, there is one group of people who pay remarkably close attention to these trends—executives of the defense contractors that are cashing in on this growth market. With the Pentagon and related agencies taking in “only” about $600 billion a year—high by historical standards but tens of billions of dollars less than hoped for by the defense industry—companies like Lockheed Martin, Raytheon, and General Dynamics have been looking to global markets as their major source of new revenue.

https://www.thenation.com/article/the-obama-administration-has-sold-more-weapons-than-any-other-administration-since-world-war-ii/

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