The efficiency argument is the mainstream

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view of corporate America and Washington policy makers. President Obama declared that

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the new law would cut “the red tape that stops too many inventors and

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entrepreneurs from quickly turning new ideas into thriving businesses — which holds our whole

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economy back.”
Overseas weapons sales by the United States totaled $66.3 billion last year,

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or nearly 78 percent of the global arms market, valued at $85.3 billion in 2011. Russia was a distant second, with $4.8 billion in deals. The American weapons sales total was an “extraordinary increase”

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over the $21.4 billion in deals for 2010, the study found, and was the largest

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single-year sales total in the history of United States arms exports. The previous high was in fiscal

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year 2009, when American weapons sales overseas totaled nearly $31 billion.A worldwide

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economic decline had suppressed arms sales over recent years. But increasing tensions with Iran drove a set

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of Persian Gulf nations — Saudi Arabia, the United Arab Emirates and Oman — to purchase American weapons at record levels.
The agreements with Saudi

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Arabia included the purchase of 84 advanced F-15 fighters, a variety of ammunition, missiles and logistics support,

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and upgrades of 70 of the F-15 fighters in the current fleet.