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Advertisement: Why pay retail?  | Bloomberg | 11 Dec 2008

Boeing Co., the second-biggest U.S. defense contractor, plans to offer cheaper weapons systems based on existing technology to counter potential Pentagon budget constraints under the Obama administration. ...

After rising more than 70 percent in the last eight years, U.S. defense outlays may slow because of spending on government stimulus programs and troop cutbacks in Iraq. President-elect Barack Obama wants to revive the economy with what may be the biggest public-works investment since the Interstate Highway System under President Dwight Eisenhower in the 1950s. ...

Congress would be "willing to look at" low-cost alternatives "if it makes sense," Representative John Murtha, a Pennsylvania Democrat who heads the House Appropriations Committee panel on defense, told reporters in Washington yesterday. ...

U.S. weapons exports, an area of growth for Boeing, rose about 45 percent to $33.7 billion in the fiscal year ended in September, the highest total since 1993, as the Defense Department increased sales in the Middle East to improve security in the region.

Future weapons sales to U.S. allies may be tempered because "a lot of these countries have their economic boom driven by globalization, and they have seen some of that unwind," Albaugh said.

Diversity is the key to economic and political evolution.
by Cat on Thu Dec 11th, 2008 at 08:38:20 PM EST
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