Join us for our latest episode of "As the Door Revolves," in which the door spins even faster between the SEC and big business. It's called "regulatory capture" -- the takeover of government agencies by the very corporations they're supposed to keep an eye on.
Members hustled back to the capital all right, not to get much accomplished for the good of the nation but to party down at events designed to scrape every last nickel of campaign contributions from the jam pots of cash held by K Street lobbyists and special interests.
A recent study from the the CATO Institute reaffirms what we've been saying all along: Cutting Pentagon spending will not cause the economic nightmare or job loss catastrophe the defense industry wants us to fear.
That the economics of peace have had such a hard time prevailing in policy conversations is, in part, because the dominant language, lobbies, and learning environments are all geared toward the mechanics of war.
Military contractors are crying crocodile tears right now about the "fragility" of their industry. But in fact that industry is flush with cash, and will do or say anything to protect the one thing they care about above all else: profit.
Panetta and his counterparts in the war industry can play Chicken Little all they want about war budget spending cuts, but they can't change the simple fact that military spending is terrible at creating jobs.
As budget cuts come to the fore, military contractors will undoubtedly try to obscure the fact that every $1 billion of military spending costs anywhere between 3,200 and 11,700 jobs or more when compared to other ways of spending the money.
Calling out waste, fraud and abuse should be seen as a positive act that strengthens government. Unfortunately, in the current climate, whistleblowers are seen as insubordinates for calling attention to failure.