Excerpt from an article on ZNet by Lawrence S. Wittner:
... A recent Pentagon report estimated that the Defense Department relies on 766,000 contractors at an annual cost of about $155 billion, and this figure does not include private intelligence organizations. A Washington Post study, which included all categories, estimated that the Defense Department employs 1.2 million private contractors.
Of course, enormously expensive air and naval weapons systems—often accompanied by huge cost over-runs—account for a substantial portion of the Pentagon's budget. But exactly who are these high tech, Cold War weapons to be used against? Certainly they have little value in a world threatened by terrorism. As Congressman Frank has remarked: "I don't think any terrorist has ever been shot by a nuclear submarine."
Furthermore, when bemoaning budget deficits, Americans should not forget the enormous price the United States has paid for its wars in Iraq and Afghanistan. According to the highly-respected National Priorities Project, their cost, so far, amounts to $1.06 trillion. (For those readers who are unaccustomed to dealing with a trillion dollar budget, that's $1,060,000,000,000.)
When calculating the benefits and losses of these kinds of expenditures, we should also include the opportunities forgone through military spending. How many times have government officials told us that there is not enough money available for health care, for schools, for parks, for the arts, for public broadcasting, for unemployment insurance, for law enforcement, and for maintenance of America's highway, bridge, and rail infrastructure? ...
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