Lawmakers Set to Propose Record $847B for Defense, $45B Over Biden’s Request

Indeed, the Pentagon is the only federal agency that has never passed an audit. Critics point out that over half of the defense budget goes toward private contractors like Lockheed Martin and Raytheon, resulting in huge profits for these companies; in the first three quarters of 2022, while the public has been suffering due to inflation, Lockheed Martin made over $4.2 billion in profit, while Raytheon reported an operating profit of over $3.9 billion.