How much did the military spend yesterday? $501 million

in #deepdives3 years ago

Sorry for the lapse in posting; have been immersed in research on another topic. Spending is still somewhat slow as we approach the middle of this spending quarter with only three companies on our watchlist snagging awards, however on Nov. 8 all but one company, Raytheon, received awards. The November totals are current, including the missed days. General Dynamics

BAE's modifications yesterday were part of multiple awards so a division of the award total has been listed below. Its two modifications are for ship maintenance and docking. You'll recall that BAE formed in 1999, the produce of a merger between British Aerospace and Marconi Electronic Systems and is the largest foreign investor in the US defense industry.

Yesterday's breakdown:

BAE: $72,795,977 (2 modifications)
Boeing: --
General Dynamics: $7,702,536 (1 modification)
L3: $15,899,762 (1 contract)
Lockheed Martin: --
Northrop Grumman: --
Raytheon: --

November to-date totals:

BAE: $133,842,079
Boeing: $102,126,194
General Dynamics: $783,496,924
L3: $133,993,432
Lockheed Martin: $307,646,507
Northrop Grumman: $141,964,711
Raytheon: $316,266,115

Below are the contracts awarded by the Defense Department
November 13, 2019
totaling $501,986,083

Recent record daily spending: $7.3 billion on October 28, 2019

Navy - $453,819,327

BAE Systems Jacksonville Ship Repair (Jacksonville, FL), Colonna Shipyards (Norfolk, VA), East Coast Repair & Fabrication (Norfolk, VA), Metro Machine Corp. (Jacksonville, FL), North Florida Shipyards (Jacksonville, FL), Tecnico (Chesapeake, VA) $270,601,012
East Coast Repair & Fabrication (Norfolk, VA) $83,087,424
BAE Systems Jacksonville Ship Repair (Jacksonville, FL), Colonna Shipyards (Norfolk, VA), Metro Machine Corp. (Jacksonville, FL) $83,087,424
Sedna Digital Solutions (Manassas, VA) $9,340,931
General Dynamics Electric Boat (Groton, CT) $7,702,536

Air Force - $48,166,756

ManTech International (Fairfax, VA) $32,266,994
L3 Fuzing and Ordnance Systems (Cincinnati, OH) $15,899,762


This information is provided to highlight just how much taxpayer money is spent, per day, to enrich companies participating in the military industrial complex. The idea that our economy requires a governmental redistribution of wealth from individual taxpayers to large corporations that are friendly and well-connected to government came from the Keynesian argument for demand “stimulus” -- that our economy's health depends on higher and higher levels of spending. For this reason, personal saving is discouraged and often penalized by the government. But because individuals still tend to follow personal incentives to save, the Keynesian argument remains in effect: that government should spend money the public is reluctant to spend through tax-and-spend policies. Its spending primarily enriches the military industrial complex, including the big seven: BAE, Boeing, General Dynamics, L3, Lockheed Martin, Northrop Grumman, and Raytheon.



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Great research as always. Sharing across my many platforms. That is one disturbingly expensive day in October. How is that not in the news cycle??

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