Todd Harrison, an analyst at the Center for Strategic and Budgetary Assessments, explained that, in short, the Defense Department gets sequestered to get below the cap, and then there is a “penalty sequestration” on top of that. Otherwise, Harrison noted, Congress could get around the larger sequester cut by simply appropriating $54 billion above the cap.
The US Air Force is expecting to award sole-source contracts to four firms to develop technology for its Long Range Standoff (LRSO) cruise missile programme.
The Pentagon said on Wednesday the White House budget office has directed it to begin planning how to implement billions of dollars in across-the-board spending reductions if Congress and the president fail to agree to avert the cuts before January 2/…/
Todd Harrison goes on Bloomberg Television’s Bottom Line to talk sequestration, the fiscal cliff and his recent report Strategic Choices: Navigating Austerity.
One of the latest reports analyzing the potential ramifications of a deficit reduction deal predicts tens of billions of dollars in increased spending for military cybersecurity and cyber weaponry.
Cuts of $500 billion over the next 10 years, representing roughly 5 to 8 percent of the Pentagon’s budget, would begin to take effect if the White House and Congress fail to reach an accord before the end of the year. The reductions would occur across the board. Even if there is a deal on taxes and spending to avoid the automatic cuts, it is a safe bet that the deal would impose additional budget reductions on the Pentagon.
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