• The US Department of Defense recently paid an astronomically high sum of $51,600 for a $300 trash can that was no longer considered “commercial” by the aerospace giant Boeing.
• A bipartisan group of Senators led by Bernie Sanders then sent a letter to Defense Secretary Lloyd Austin demanding an update on the department’s efforts to investigate corporate price gouging.
• This comes as the total US debt surpasses $32 trillion, with $572 billion added to the national debt in the last two weeks alone.
US Government Pays Over 16000% Markup for Trash Can
The U.S. Department of Defense has shockingly paid Boeing $51,600 for a $300 trash receptacle which was previously designated as a non-commercial item. This outrageously high markup is especially concerning as the total U.S debt surpasses $32 trillion and just two weeks ago, an additional $572 billion was added to the national debt.
Bipartisan Group Demands Investigation into Price Gouging
In response to these revelations, a bipartisan group of Senators led by Bernie Sanders sent a letter to Defense Secretary Lloyd Austin demanding an update on the department’s efforts to investigate corporate price gouging. Furthermore, this letter highlighted that “the DOD can no longer expect Congress or the American taxpayer to underwrite record military spending while simultaneously failing to account for hundreds of billions it hands out every year.”
CBS News Investigation Finds Raytheon Technologies Also Increasing Prices
A CBS News investigation found that Raytheon Technologies had increased their prices from around $25,000 per unit up to over $400,000 per unit for their stinger missiles. This further highlights how corporations are profiting exorbitant amounts off military contracts without proper oversight and accountability from government officials.
Defense Department Needs To Implement Reforms
The Pentagon needs implement reforms in order prevent unnecessary spending such as this incident in order protect taxpayers from having to foot these large bills that do not represent value for money at all. Additionally, they need enforce stricter laws and regulations so companies cannot exploit their positions of power when negotiating with government departments such as the DOD for contracts and supplies..
Overall this report highlights how vital it is that government departments such as the DOD have strict regulations in place when engaging with private corporations so taxpayers are not being taken advantage of while still securing important supplies necessary for defense operations and other government initiatives .