December 07, 2006

Another BOOM! Year

U.S. Predicts Bumper Year in Arms Sales:
The U.S. government is on its way to brokering about $20 billion in arms sales in the fiscal year that began October 1, steady with last year's near-record total, the Pentagon official responsible for such sales said on Monday.

"We're forecasting in the $20 billion range" for fiscal 2007, Air Force Lt. Gen. Jeffrey Kohler, director of the Defense Security Cooperation Agency, told the Reuters Aerospace and Defense Summit in Washington.

In fiscal 2006, which ended on September 30, foreign military sales notified to Congress reached $20.9 billion, nearly double the $10.6 billion the previous year.

Last year's total was second only to 1993, which topped $30 billion, swollen by sales to the Middle East after the first Gulf War.

Regional security concerns tied to Iran and North Korea were helping drive current sales, Kohler said.
(H/T A.L.)

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