Navy Arms Buyer Sees Funding Challenges For Shipbuilding
September 11, 2012
(Reuters) - The U.S. Navy will run out of money in January or February for the refueling of the USS Theodore Roosevelt aircraft carrier, unless Congress enacts a special measure to allow the work to continue, the Navy's top arms buyer told lawmakers on Tuesday.
Sean Stackley, assistant secretary of the Navy, outlined a series of funding problems facing Navy shipbuilding, including Congress' failure to pass a budget for fiscal 2013, which begins October 1, and automatic additional spending cuts to start taking effect in January.
The budget crisis threatened to delay shipbuilding programs and raise the cost of several shipbuilding programs, but could also undermine ongoing efforts to stabilize orders for U.S. shipbuilders and their suppliers, Stackley told a House Armed Services subcommittee hearing.