Global Unrest Good for Arms Business

| Thu Jun. 16, 2011 10:58 AM EDT

Maybe the rest of the economy is in the doldrums, but the LA Times reports that sales of U.S. military gear are on a record pace this year:

India signed a deal Wednesday for the purchase of 10 Boeing C-17 military cargo jets....The largest-ever U.S. foreign arms deal was announced last October, when Saudi Arabia ordered $60 billion in military hardware in a multiyear pact. The Saudis' laundry list of weaponry included Raytheon Co.'s 2,000-pound bunker-busting bombs, Boeing's F-15 fighter jets and Sikorsky Aircraft Corp.'s Black Hawk helicopters.

More deals are in the works. Australia wants two dozen Navy Seahawk helicopters valued at $1.6 billion. Saudi Arabia is eager to get $330 million in thermal-imaging and night-vision equipment. And Britain is looking to purchase $137 million in upgrades for its U.S.-made ship-mounted guns. Orders are also in from Morocco, Iraq and the United Arab Emirates.

Who says Obama isn't doing anything to boost the economy? And keep in mind, these are export dollars, so they're helping our trade deficit. Good job, military-industrial complex!

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