The arms industry in the USA has enormous financial resources. Money also flows into the election campaign.
For years, there has been widespread criticism of the financial ties between the arms industry and politics in the USA. Democratic Senator Bernie Sanders vehemently denounces the “greed of corporations” and some politicians. “Defense companies are cheating the American people,” Sanders said a few months ago, accusing them of selling weapons and technology to the state at excessive prices with the help of pliant officials and politicians.
Money for both parties from the arms industry
And yet Sanders’ objections have so far fallen on deaf ears, because with a military budget of over 900 billion dollars this year alone, a lot of money is at stake – for arms companies like Lockheed Martin and Northrop Grumman and many defense politicians. And also for the presidential candidates.
According to the independent research portal Open Secrets, Kamala Harris has received over a million dollars from the arms industry during the election campaign, while Donald Trump has received more than 800,000 dollars. Overall, that’s peanuts. The corporations give far more money to members of the House of Representatives and the Senate who sit on the committees that decide on military spending. Here, significantly more money goes to Republicans than to Democrats.
Top money recipients
Before the 2020 presidential election, defense companies donated a total of more than $50 million to candidates and committees, with $25.4 million going to Republicans and $21.7 million to Democrats. This year, too, payments so far indicate that the defense industry is hoping for more from Republicans. But Democratic Representative Adam Smith, currently Vice Chairman of the House Armed Services Committee, can also hope for generous gifts.
Since 1996, he has received more than $1.6 million from the defense sector, making him the largest recipient of money by a wide margin. Senator Bernie Sanders calls this “America’s system of legalized bribery.” “Some of the profits from these lucrative contracts flow back to politicians who are happy to accept millions in campaign donations to ensure that the defense budget is always well filled.”
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
