To the Point
Gates Calls for a Major Overhaul in Defense Spending
Yesterday was supposed to be "bloody Monday" for the defense industry, but its stocks rallied as Defense Secretary Gates outlined his latest budget . The US spends more on the military services, arms and equipment than the rest of the world's nations combined.
By Warren Olney • • 1 min readYesterday was supposed to be "bloody Monday" for the defense industry, but its stocks rallied as Defense Secretary Gates outlined his latest budget. The US spends more on the military services, arms and equipment than the rest of the world's nations combined. Despite cuts in high-profile projects, Pentagon spending may go up, because, as one analyst said, "For everything they took away, they added something else." The debate will be about conventional warfare versus counterinsurgencies like those in Iraq and Afghanistan, and about jobs in congressional districts.
Image: Marine Gen. James Cartwright (R), vice chairman of the Joint Chiefs of Staff, answers a question during yesterday's press conference with Defense Secretary Gates. DoD photo: Cherie Cullen
Warren Olney
former KCRW broadcaster
Katie Cooper
Producer, 'One year Later'
Karen Radziner
Managing Producer, To the Point & Which Way LA?
Christian Bordal
Managing Producer, Greater LA
Spencer Ackerman
Pulitzer Prize-winning reporter and author of “Reign of Terror: How the 9/11 Era Destabilized America and Produced Trump”
Winslow Wheeler
Center for Defense Information
Richard Aboulafia
managing director at AeroDynamic Advisory