In spite of the recession, major military contractors have realized substantial – even excessive – profits throughout the last decade. Spending on procurement from these contractors and others amounted to roughly a trillion dollars between 2001 and 2010.1 Stock prices of major military contractors more than doubled during this period. Some, such as Halliburton, benefited from billions in lucrative, single-source contracts.2 Procurement and contract reform, better accounting methods, and competitive bidding could save billions of taxpayer dollars.
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