Pentagon budget cuts were supposed to herald a wave of consolidation in the defense industry. Instead they’re prompting contractors to shrink by spinning off divisions.
The Pentagon’s $527 billion fiscal 2014 budget request further deepens the Obama administration’s focus on the Asia-Pacific, better aligning funds with the military services expecting to play major roles in that region/…/
The Pentagon laid out a budget plan yesterday that would hold military spending steady next year but ignores harsh political realities that are likely to force steep cuts in defense funding.
Wednesday is the day the Pentagon rolls out its budget proposal for the coming 2014 fiscal year, which will begin Oct. 1.
President Barack Obama will seek smaller cuts to the military when he releases his 2014 budget on Wednesday, though the request is probably dead on arrival in Congress/…/
Call it the budget of denial. The Obama administration’s $526.6 billion Pentagon budget request for the 2014 fiscal year arrived two months late and $52 billion over the spending caps. The White House insists that its wider plan for taxes and spending, released today, will make further deep cuts at Defense unnecessary. But if President Obama and congressional Republicans fail to cut a deal—odds are they won’t—come October, the Pentagon will be scrambling once again to find many billions more in savings. It’s still trying to find the $41 billion it has to cut this year/…/
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