The Atlantic:

America’s national priorities are badly misplaced. Our country spends, with almost no debate, nearly $1 trillion a year on the military while at the same time ignoring massive problems at home.

We apparently have unlimited amounts of money for nuclear weapons, fighter planes, bombs, and tanks. But somehow we can’t summon the resources to provide health care for all, child care, affordable housing, and other basic needs.

The United States remains the world’s dominant military power. Alone, we account for roughly 40 percent of global military spending; the U.S. spends more on its military than the next 10 countries combined, most of whom are allies. Last year, we spent more than three times what China spent on its military.

Not counting supplemental spending, the United States plans to dedicate about $900 billion to the military this year. Almost half of this amount will go to a handful of huge defense contractors enjoying immense profits, which have significantly increased as a result of the war in Ukraine.

Like a majority of Americans, I believe that Ukraine needs the help of the United States and the international community to fight off Russia’s invasion—and that it’s both morally right and strategically necessary to provide them with what they need to do so. But many defense contractors seem willing to capitalize on the war to line their pockets.

In a particularly egregious example, RTX Corporation, formerly Raytheon, has increased prices for its Stinger missiles sevenfold since 1991, leaving the U.S. paying more than $400,000 to replace each missile sent to Ukraine. Even accounting for inflation and improvements to missile technology, that is an outrageous price increase.

Yet somehow, while increasing costs for the American taxpayer by billions, RTX has the money to announce plans to buy back $37 billion in stock through 2025. Taxpayers pay dramatically more. Shareholders get richer.

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