"MILITARY EQUIPMENT IS NOT BEING MADE FAST ENOUGH, Trump wrote at one point in his lengthy, 322-word post. It must be built now with the Dividends, Stock Buybacks, and Over Compensation of Executives, rather than borrowing from Financial Institutions, or getting the money from your Government. Our Country comes FIRST, and they're going to have to learn that, the hard way, Trump warned."
"I have been informed by the Department of War that Defense Contractor, Raytheon, has been the least responsive to the needs of the Department of War, the slowest in increasing their volume, and the most aggressive spending on their Shareholders rather than the needs and demands of the United States Military, Trump wrote in a follow-up post. The president threatened to sever government ties with Raytheon, now known as RTX, which earns billions from its defence contract work."
The US president demanded defence contractors cap executive pay until new production plants are built and increase the speed of military equipment production. He accused contractors of profiteering and directed that funding should come from dividends, stock buybacks and reduced executive compensation rather than borrowing or additional government funds. He singled out Raytheon (now RTX) as particularly unresponsive and threatened to sever government ties. The Department of Defense recently awarded RTX a $50bn, 20-year contract. Defence spending represents about 2.7% of US GDP and the total defence budget typically hovers near $1 trillion.
Read at www.aljazeera.com
Unable to calculate read time
Collection
[
|
...
]