http://quote.bloomberg.com/apps/news?pid=10000103&sid=apR5lgYklYnc&refer=news_index, The $53 billion U.S. missile defense shield being developed by Boeing Co., Lockheed Martin Corp. and Northrop Grumman Corp. may be derailed by a John Kerry presidency.
Kerry, the Democratic nominee, plans to rein in spending on the program, which President George W. Bush has doubled since taking office. Kerry's “New Military to Meet New Threats'' platform includes “reducing total expenditures on missile defense'' and shifting money from other large weapons programs, according to campaign literature. Advisers say Kerry will focus on boosting military pay, troop levels and readiness.
“Given our national security priorities, the question is how much money do we need to spend on this system that has yet to complete operational testing,'' campaign spokesman Mark Kitchens said in an interview.
The U.S. will spend $7.7 billion this year to develop the shield, the most for any Pentagon program, budget documents show. Work on the shield pushed Boeing's military sales to a record $27 billion last year and provided 10 percent of Lockheed's $32 billion in sales. Congress approved $9.2 billion for fiscal 2005, and Defense Department documents show the Missile Defense Agency intends to ask for $10.2 billion in 2007.
