Thanks to Progressive Review for bringing the following to our attention. If you are looking to understand what is holding up the stock market, here is an item for your consideration:
70% OF CLASSIFIED INTELLIGENCE BUDGET GOES TO CORPORATE CONTRACTS
TIM SHORROCK, SALON – More than five years into the global “war on terror,” spying has become one of the fastest – growing private industries in the United States. The federal government relies more than ever on outsourcing for some of its most sensitive work, though it has kept details about its use of private contractors a closely guarded secret. Intelligence experts, and even the government itself, have warned of a critical lack of oversight for the booming intelligence business.
On May 14, at an industry conference in Colorado sponsored by the Defense Intelligence Agency, the U.S. government revealed for the first time how much of its classified intelligence budget is spent on private contracts: a whopping 70 percent. Based on this year’s estimated budget of at least $48 billion, that would come to at least $34 billion in contracts. . .
“Those numbers are startling,” said Steven Aftergood, the director of the Project on Government Secrecy at the Federation of American Scientists and an expert on the U.S. intelligence budget. “They represent a transformation of the Cold War intelligence bureaucracy into something new and different that is literally dominated by contractor interests.”