Tuesday, June 19, 2012
U.S. foreign military sales at record levels
Recovery may be slow in the U.S and many areas are facing cutbacks in the public sector such as education. However foreign military sales are heading for a record year. Among the larger sales is of Boeing made F-15 fighter jets to Saudi Arabia at a cost of 29.4 billion dollars.
To date in 2012 the U.S.. has sold 50 billion in military items. There are more than three months left in the fiscal year. In 2011 the total was much lower at 30 billion for the whole year.
Sales were also boosted by the sale of a jet fighter to Japan. The Saudi Arabia sale includes not only 84 new planes but upgrading of older planes , missiles, and spare parts as well as training. Israel will receive even newer fighter aircraft than Saudi Arabia to offset fears about the Saudi sale. For more see this article.