Earnings,outlook bright for defense cos.

[ProSense]

Earnings,outlook bright for defense cos.

By STEPHEN MANNING, AP Business Writer
32 minutes ago

WASHINGTON - Defense contractors continue to reap the bounty of robust Pentagon spending on military equipment and the conflicts in Iraq and Afghanistan, with several top military suppliers reporting big third quarters this week.

General Dynamics Corp. and Northrop Grumman Corp., two of the nation's largest makers of military equipment, posted double-digit earnings on Wednesday, and predicted more profit strength for the rest of the year.

Northrop's 62 percent earnings spike and the nearly 25 percent improvement for General Dynamics compared with the same period a year ago follows a 22 percent earnings increase reported Tuesday by the sector's biggest company, Lockheed Martin Corp.

The big profits come from a variety of Pentagon priorities, from General Dynamics building armored vehicles to quickly replace war-worn equipment in Iraq to the longer term programs like Northrop's warships and Lockheed's fighter jets.

more

Iraq, Afghan wars could cost US 2.4 trillion: report:

WASHINGTON (AFP) - The total cost, including debt servicing, of the US wars in Iraq and Afghanistan could reach 2.4 trillion dollars by 2017, a report by the Congressional Budget Office found Wednesday.

[eppur_se_muova]

1. They've found the WDM -- welfare for defense mfgrs. nt

[mmonk]

2. Why we fight.

[Vilis Veritas]

3. War Is A Racket

http://www.lexrex.com/enlightened/articles/warisaracket.htm

[ProSense]

4. "$2.4 trillion for Iraq and Afghanistan?...The real costs could actually be higher."

Wednesday, Oct. 24, 2007 16:46 EST

$2.4 trillion for Iraq and Afghanistan?

In cost estimates presented to the House Budget Committee today, the Congressional Budget Office says the wars in Iraq and Afghanistan -- together with the interest on the debt that's financing them -- could end up costing Americans $2.4 trillion.

CBO officials were asked this afternoon whether the $2.4 trillion figure represents their "worst-case" scenario. No, they said: It represents only the worst of two different scenarios the CBO priced out. The real costs could actually be higher.

At the White House today -- where they underestimated this year's costs for the wars by more than 30 percent just eight months ago -- Dana Perino said the CBO projections were "just a ton of speculation."

Anyway, she said, money's no object.

"I'm not worried about the number," Perino said."What I'm worried about is making sure that the president gets what he needs in order to provide the safety and security for the country."