President Barack Obama fired a surprise broadside at the defense industry, saying he intends to clamp down on practices that have resulted in billions of dollars in cost overruns and delays in recent years At a time when Washington faces the prospect of bailing out multiple sectors of the economy, contractors' cost overruns are showing up on the radar of many in the capital. And the Pentagon, which spends about $330 billion a year to buy everything from fighters to paper clips, is a particular focus of the new administration. "In this time of great challenges, I recognize the real choice between investments that are designed to keep the American people safe and those that are designed to make a defense contractor rich," the president said Wednesday.
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It's about time. Examples of cost overruns have plagued this entire industry for decades and nothing is ever done.
Contracts awarded in shady 'no bid' deals, prices formally agreed on while under the table everyone involved expects their 'cut'.
This is the good ole boy network on steroids.
Items that civilians can purchase anywhere are priced many times higher if they are designated for military use.
Reports of substandard equipment sent to troops in Iraq and substandard performance by defense contractors pepper the media while companies responsible for this disgrace get fat on inflated costs just because the buyer is the U.S. government.
The actions of these contractors border on treason and is clearly guilty of theft.
They should be punished accordingly.
Contracts awarded in shady 'no bid' deals, prices formally agreed on while under the table everyone involved expects their 'cut'.
This is the good ole boy network on steroids.
Items that civilians can purchase anywhere are priced many times higher if they are designated for military use.
Reports of substandard equipment sent to troops in Iraq and substandard performance by defense contractors pepper the media while companies responsible for this disgrace get fat on inflated costs just because the buyer is the U.S. government.
The actions of these contractors border on treason and is clearly guilty of theft.
They should be punished accordingly.
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