On January 17, 1961, President Dwight Eisenhower said the following (source: Yale Law School):

A vital element in keeping the peace is our military establishment. Our arms must be mighty, ready for instant action, so that no potential aggressor may be tempted to risk his own destruction.

Our military organization today bears little relation to that known by any of my predecessors in peacetime, or indeed by the fighting men of World War II or Korea.

Until the latest of our world conflicts, the United States had no armaments industry. American makers of plowshares could, with time and as required, make swords as well. But now we can no longer risk emergency improvisation of national defense; we have been compelled to create a permanent armaments industry of vast proportions. Added to this, three and a half million men and women are directly engaged in the defense establishment. We annually spend on military security more than the net income of all United States corporations.

This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence — economic, political, even spiritual — is felt in every city, every State house, every office of the Federal government. We recognize the imperative need for this development. Yet we must not fail to comprehend its grave implications. Our toil, resources and livelihood are all involved; so is the very structure of our society.

In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the militaryindustrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together.

Akin to, and largely responsible for the sweeping changes in our industrial-military posture, has been the technological revolution during recent decades.

In this revolution, research has become central; it also becomes more formalized, complex, and costly. A steadily increasing share is conducted for, by, or at the direction of, the Federal government.

Today, the solitary inventor, tinkering in his shop, has been overshadowed by task forces of scientists in laboratories and testing fields. In the same fashion, the free university, historically the fountainhead of free ideas and scientific discovery, has experienced a revolution in the conduct of research. Partly because of the huge costs involved, a government contract becomes virtually a substitute for intellectual curiosity. For every old blackboard there are now hundreds of new electronic computers.

The prospect of domination of the nation’s scholars by Federal employment, project allocations, and the power of money is ever present

and is gravely to be regarded. Yet, in holding scientific research and discovery in respect, as we should, we must also be alert to the equal and opposite danger that public policy could itself become the captive of a scientifictechnological elite.

It is the task of statesmanship to mold, to balance, and to integrate these and other forces, new and old, within the principles of our democratic system — ever aiming toward the supreme goals of our free society.

On January 5th, The Daily Caller reported:

Members of Congress raked in profits from defense contractor stocks after voting to send billions in military aid to Ukraine, according to financial disclosures and voting records reviewed by the Daily Caller News Foundation.

The U.S. has delivered more than $20 billion worth of military aid to Ukraine between Jan. 24, a month before Russia invaded, and Nov. 20, according to data compiled by the Council on Foreign Relations, and Congress has approved billions more in spending on Ukraine. To make up for that aid, top defense companies have boosted production, and lawmakers trading on company stocks saw a financial windfall as a result, according to publicly available stock trading data.

Overall, Democratic Rep. Earl Blumenauer of Oregon netted the highest average returns on defense company stocks since 2021 at 40%, according to a chart published Tuesday by Unusual Whales, a site known for exposing how members of Congress profit from trading related to legislative issues. Rep. Marjorie Taylor Greene of Georgia, who has voted against Ukraine aid, was the top Republican at 35.5%.

We are seeing what President Eisenhower warned us about.