Industrial production in the United States defense and space sectors has surged by 17.5% since the war in Ukraine began.
By Al Mayadeen English – The Wall Street Journal
While supporters of Ukraine typically emphasize US strategic interests or moral duties, their blind support may be due to the war also benefiting the economy, The Wall Street Journal reported.
Since the war in Ukraine began, the US defense sector has seen a surge in orders for weapons and ammunition from European allies looking to expand their military capabilities, as well as from the Pentagon, which is purchasing new equipment from defense firms and refilling military supplies depleted by exports to Ukraine.
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According to Federal Reserve data, industrial production in the US defense and space sectors has surged by 17.5% since the war began, and administration officials say 64% of the $60.7 billion designated for Ukraine in a $95 billion supplemental military package will come back to the US defense industrial base.
Myles Walton, a military industry analyst at Wolfe Research, stated that the European nations’ recent expenditure on US jet fighters and other military gear reflects “a generational investment” whereby the last few years were equivalent to the previous 20 years.
The recent $95 billion assistance plan passed by the Senate, which includes cash for “Israel” and Taiwan, was opposed by Republican friends of presidential candidate Donald Trump.
The reasons they provide for opposing the package are that the US cannot afford to help Kiev while federal deficits grow, Russia will triumph anyway, and the US must improve border security before sending further aid elsewhere.
The additional funding, together with prior agreements, may infuse around 0.5% of one year’s GDP into the US industrial military base over several years.
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Comments
4 responses to “How US economy benefits from war in Europe: WSJ”
It is said that it is similar to laundering money , it comes back to you if you own shares in the MIC .
General Smedley D.ButlerButler rightly said that war is a racket
People’s tax dollars go into the weapon industries. Wealth redistribution going on…
The Martians (worshippers of their Roman deity of eponymous Mar-tial war glory and Mar-KKKet forces) have been in control since the first hominid decided to claim the cliff face and charge his fellow troglodytes the lion’s share of the hunt in return for not having their nuts cracked by the eviction squad.
They won’t feel at home until they have reduced this planet to the comfortable ambience of their radioactive home planet.
Gaza is just a laboraTory reh€ar$a£.
Instead of making weapons of mass destruction; build hospitals, schools, power plants, housing, infrastructure, and advance science to improve all life on Earth.