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Saturday, September 1, 2012

Obama Steps Up Foreign Weapons Sales, Overwhelming Other Arms Makers

Business is booming for American arms exports, thanks to multiple billion-dollar deals between the Obama administration and Arab dictatorships.

According to the annual report by the Congressional Research Service (CRS), the United States, already the world’s leader in international weapons sales, outdid itself in 2011 when it sold a record $66.3 billion in military equipment. Last year’s arms exports shattered the previous high mark of $31 billion in 2009, and were three times higher than what was sold in 2010, when $21.4 billion in deals were completed.

The $66.3 billion in 2011 represented more than 77% of all international arms sales, which totaled $85.3 billion. Russia was the second leading dealer in military goods, selling only $4.8 billion.

The enormous U.S. haul was driven largely by deals with Saudi Arabia, the United Arab Emirates (UAE) and Oman. Read More