Lockheed Martin debuted the F-35 fighter in 2006. Spending on the jet is in danger of being cut back. USAF/Reuters file
For Defense Industry, A Golden Decade Comes To An End -- MSNBC/AP
Sept. 11 attacks led to a spending spree, but now the US must cut back.
NEW YORK — The wars in Iraq and Afghanistan are winding down, Osama bin Laden is dead, and the federal government is deeply in debt. This spells the end of what was a golden decade for the defense industry.
In the decade since the Sept. 11 attacks, the annual defense budget has more than doubled to $700 billion and annual defense industry profits have nearly quadrupled, approaching $25 billion last year.
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My Comment: Yup ... the golden decade for the defense industry is now rapidly becoming the depressed decade .... or worse.
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