September 30, 2004
Free Market Miracle #0006
Only a little more than one-third of the $900 billion in Pentagon contract grants over the past six years were awarded after full and open competitive bidding, a private watchdog group reported Wednesday. [...]
Of the nation's top 10 military contractors, nine won more than half of their Pentagon contracts through non-competitive awards. [...]
In addition, the report said that because of military industry consolidation, 80 percent of all Pentagon contracting dollars were won by the top 1 percent of all contractors. It found that the Pentagon has become increasingly dependent on military contractors for work that had previously been done by soldiers and Pentagon civilian employees.
Ah, well. At least it's only taxpayers' earnings that they're spreading around like Monopoly money.
Little wonder then, perhaps, that Boeing is "touting its growing military business as an offset to the commercial division's" slumping profitability.
Posted by Eddie Tews at September 30, 2004 03:06 PM
Comments
Hope you got permission to use that copyrighted image of the monopoly guy... -- Posted by: Bill Gates on October 3, 2004 10:50 PM