When President Eisenhower warned America about the rising power of the military industrial complex in 1961, defence spending was greater than the combined net income of all American companies. Corporate earnings are now seven times the defence budget, but the procurement process remains politically charged.

The Government Accountability Office recommended on Wednesday that the US Air Force reopen the bid process for a $38bn contract for tanker jets that provide mid-air refuelling. This follows a good deal of public teeth-gnashing, and furious protests from Boeing over victory by a consortium that, while led by Northrop Grumman, uses a foreign EADS-made aircraft.