[yonif]

Ping.

[StockAyatollah]

So instead of buying the Crusader, we're going to re-furbish the artillery pieces of our friends the Egyptians. Right. Good use of my tax money. Yeah.

[Prodigal Son]

Interesting how that works isn't it? We give Egypt a big pile of taxpayer money. They buy weapons from us with it. They upgrade their weapons with it. US companies do the work. Americans are employed. Tax money that originally went to Egypt winds up in the American worker's pocket (and the shareholders' bank accounts). Worker pays his taxes (shareholders figure tax loopholes). Whole cycle keeps going...

[Prodigal Son]

Here's something interesting relating (sort of) to this matter:

http://www.businessweek.com/investor/content/sep2003/pi20030925_0383_pi006.htm

Banc of America Downgrades Raytheon to 'Sell'

Analyst Nick Fothergill cites increasing pressure on the outlook for the U.S. defense budget

Banc of America downgraded Raytheon (RTN ) to sell from buy, and cut the $35 price target to $25.

Analyst Nick Fothergill says he downgraded the defense sector to neutral from buy, based on the federal budget outlook. He says Iraq supplementals and a rising U.S. fiscal deficit have started to place increasing pressure on the outlook for the defense budget. As growth in U.S. defense spending starts to slow, he expects U.S. defense companies to see GAAP earnings per share multiples move back towards their average 10-year multiple of 15.2.

Fothergill says another concern with Raytheon is that its Network Centric Systems segment (18% of 2002 EBIT) is at risk of seeing further cost over-runs on its 10 problem programs.