The Killing Sector of the Economy Booms

U.S. spending on weapons through 2016 likely will grow faster than the overall defense budget, which will have annual increases of only about 1 percent above inflation, according to Pentagon Comptroller Robert Hale, reports Bloomberg.

“Our goal would be to get forces and modernization to grow by 2 or 3 percent,” Hale said in an interview with Bloomberg.

An increase in weapons spending will include greater purchases of Bethesda, Maryland-based Lockheed Martin Corp.’s F-35 fighter, new ground vehicles, ship construction, satellite systems and unmanned drones, according to the Pentagon’s long- range plan. Northrop Grumman Corp., of Los Angeles, and Chicago-based Boeing Co. also stand to benefit from increased killing machine production.