'Fix the Debt' is really 'Protect Defense Contractors'

Who really loves the idea of sticking it to seniors and poor people in the fiscal cliff curb negotiations? Well, it's of course our old friends Simpson and Bowles and their great big corporate lobbying machine Fix the Debt.

You ever wonder why they have it in for the olds and the poors? Well, take a look at this analysis by Public Accountability Initiative.

• 38 Fix the Debt leaders have ties to 43 companies with defense contracts totaling $43.4 billion in 2012. Fix the Debt leaders profiting from defense spending include the group's co-chairs, steering committee members, and CEO council members; they have ties to these companies as board members, executives and CEOs, and lobbyists.
• Boeing (with $25.1 billion in defense contracts) and Northrop Grumman (with $8.5 billion) lead the pack. Boeing CEO W. James McNerney, Jr. is on Fix the Debt's CEO Council, and Northrop Grumman board member Vic Fazio is on Fix the Debt's steering committee.
• Four other Fix the Debt-linked companies have more than $1 billion in 2012 defense contracts: GE ($2.1 billion), Textron ($2 billion), Honeywell ($1.5 billion), and World Fuel Services ($1.2 billion).
• The 38 Fix the Debt leaders with ties to defense contractors drew at least $401 million in compensation from the 43 companies in 2011'an average of $10.6 million each.[...]

In case you were wondering, no, Fix the Debt is not advocating any defense cuts as a means of reducing the debt and deficit. But their "core principles" include Social Security, Medicare and Medicaid reforms. Go figure.