In April, President Donald Trump requested a $445 billion increase to the defense budget, meaning the United States will be spending around $1.5 trillion on the military. Much of the largesse will benefit the Big Five war contractors: Boeing, General Dynamics, Lockheed Martin, Northrop Grumman, and RTX (formerly Raytheon). These are the companies behind such budget-shredding boondoggles as the F-35 and the littoral combat ships.

If the promises of these weapons salesmen are to be believed, the US war with Iran should already be over. The enormousness of the Pentagon’s budget, on paper, means that any conflict the United States enters should be a decidedly short and lopsided affair. Yet Iran has not crumbled against an onslaught that one analyst calculated has cost the United States $72 billion and counting. What has all this spending accomplished?

A US Patriot interceptor missile costs $4 million; a Terminal High Altitude Area Defense (THAAD) interceptor runs around $13 million. America has fired plenty of both in the war with Iran. Contrast that with the Iranian attack drones these systems are meant to shoot down, which run anywhere from $20,000 to $50,000 apiece. These swarms of cheap drones are able to effectively counter US aircraft carriers whose price tags run into the billions (that is, when laundry room fires don’t do the job). The United States has fired off so much ordnance that talk has turned to a possible missile shortage.