Presidential Hopeful Marianne Williamson Calls For Trimming Defense Budget By 20%: 'System Theft, Systemic Ripoff'
Portfolio Pulse from Shanthi Rexaline
Democratic primary candidate Marianne Williamson criticized the U.S. defense budget of $858 billion for the fiscal year 2023, attributing part of it to price gouging by defense contractors such as Raytheon Corp (RTX), Northrop Grumman Corp (NOC), and Boeing Co (BA). She proposed a 20% cut in the defense budget, arguing that funds should be redirected towards healthcare, education, and living wages. The Invesco Aerospace & Defense ETF (PPA) ended Friday’s session up 0.36% at $85.31.
August 14, 2023 | 8:41 am
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NEGATIVE IMPACT
Boeing Co may face negative impact if defense budget is cut.
A significant cut in the defense budget could lead to reduced contracts and revenues for defense contractors like Boeing Co.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Northrop Grumman Corp may face negative impact if defense budget is cut.
A significant cut in the defense budget could lead to reduced contracts and revenues for defense contractors like Northrop Grumman Corp.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The Invesco Aerospace & Defense ETF may face negative impact if defense budget is cut.
A significant cut in the defense budget could lead to reduced revenues for companies in the aerospace and defense sector, potentially impacting the performance of the Invesco Aerospace & Defense ETF.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Raytheon Corp may face negative impact if defense budget is cut.
A significant cut in the defense budget could lead to reduced contracts and revenues for defense contractors like Raytheon Corp.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80