Military Procurement: Sky-High Salaries

With the cost of U.S. warplanes climbing faster than an F-15 fighter, one defense expert has suggested that it would take the entire U.S. military budget to buy a single aircraft by the middle of the 21st century. Last week a Government study cited one possible reason for the runaway prices: lavish pay for the executives and employees of some major U.S. defense contractors.

Prepared by the General Accounting Office, the report found that salaries and bonuses of top executives at twelve large aerospace firms were 42% higher than the average in other industries. Pay for factory and clerical workers...

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