U.S. Defense Companies Should Remain Strong if No Sequestration
March 8, 2012
Defense companies that survived broad cuts in the Pentagon's 2013 budget proposal are likely to see their programs continue over the next five years barring additional reductions.
"I think that's a fair assessment, if there is no sequestration," Deputy Defense Secretary Ashton Carter said at a March 8 conference sponsored by McAleese and Associates and Credit Suisse in Arlington, Va.
The U.S. Defense Department plans to cut $259 billion from planned spending over the next five years, as mandated by the Budget Control Act of 2011. This is part of $487 billion in defense spending cuts mandated by the law over the next decade.