• The U.S. Department of Defense paid $51,600 to Boeing for a $300 trash receptacle due to it becoming a non-commercial item.
• This follows a CBS News investigation that found Raytheon Technologies has increased the cost of its stinger missiles from $25,000 to over $400,000 per unit.
• 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 as US debt surpasses $32 trillion.
US Government Pays Overwhelming Sum for Trash Can
The U.S. Department of Defense has paid an overwhelming sum of $51,600 to aerospace giant Boeing for a trash can worth only $300, according to a report from Responsible Statecraft, an online magazine for the Quincy Institute. This follows a CBS News investigation that revealed Raytheon Technologies had increased the cost of its stinger missiles from $25,000 to over $400,000 per unit in recent years.
Why Did DOD Pay Exorbitant Price?
Until 2010, Boeing charged an average of only $300 for this trash container used in the E-3 Sentry plane based on the 707 civilian airliner. However when the 707 fell out of use in the United States, this trash can was no longer considered “commercial” and therefore Boeing was not obligated to keep its price at previous levels – thus explaining why they charged such an exorbitant amount after it became designated as non-commercial item.
Senators React To Price Gouging Reports
In response to reports about corporate price gouging , a bipartisan group of Senators led by Bernie Sanders sent a letter to Defense Secretary Lloyd Austin asking for an update on what efforts have been made by the department towards investigating these matters further – particularly since US debt now surpasses $32 trillion with over half billion added just in two weeks alone.
Industry Source Speaks Out Anonymously
The report also cites remarks made by weapons industry source who spoke under anonymity about this issue and others related it – emphasizing how DOD is expecting too much from Congress and taxpayer while simultaneously failing to account for hundreds and billions handed out every year private corporations that are already very profitable as is..
Conclusion
As we continue on seeing more reports detailing outrageous amounts being paid for military products (such as this case with Boeing’s trash can), hopefully lawmakers will put pressure so that these practices are curbed and brought back into reasonable spending habits – especially considering how high American debt has become recently!