Personal Finance Disclosures Reveal Leading F-22 Defender Phil Gingrey Owns Boeing Stock

Last week, Rep. Phil Gingrey (R-GA) and VoteVets Chairman Jon Soltz sparred on MSNBC about reinstating funds for new F-22s. Defense Secretary Robert Gates has called for capping production of the F-22 Raptor, a fighter that has never seen combat in the Iraq or Afghanistan theaters. Despite the fact that the OMB recommended a veto if the defense authorization budget contains new F-22s, members of Congress in the House Armed Services committee, lead by Gingrey, slipped the funding in anyways. In his debate with Gingrey, Soltz said:

The Congressman cares about the Lockheed Martin stock price, and I care about the men and women who fight on the group. And this weapon system does nothing for us.

Watch it:


Indeed, Gingrey’s 2008 personal finance disclosure reveals that the Congressman owned between $50,000 to $100,000 in Boeing stock, a company that joined with Lockheed to manufacture the F-22. Gingrey’s latest personal finance disclosure report, filed late this year and posted online this week, shows he still owns Boeing stock, but it has dropped in value to $15,000 to $50,000. Because Lockheed Martin is Boeing’s partner in building the F-22, Gingrey does have an actual incentive to see an additional $369 million in unnecessary spending for new F-22s.