WH: Sequestration Would Cost $54.7B in 2013 for DoD
September 14, 2012
The U.S. military services would be forced to slash the accounts they tap to buy aircraft, vehicles, ships and ammunition by 9.4 percent each if Congress and the White House fail to reach a deficit-reduction accord, according to a White House report to Congress released Sept. 14.
Overall, the Pentagon would be forced to reduce its base budget by $54.7 billion in fiscal 2013, according to the report. The beefy 396-page report provides the first official details of how each federal agency would be hit if a process known as sequestration is allowed to occur on Jan. 2.
The $54.7 billion cut to planned Defense Department spending in 2013 would be the first tranche of a $500 billion, 10-year reduction in planned Pentagon spending mandated under a debt-reduction law agreed to in 2011 by Congress and the Obama administration. That same law mandated an equal amount of cuts to domestic programs.
The figures are based on 2012 funding levels and are subject to change.
For procurement accounts, the Navy would be forced to shrink its $23.8 billion aircraft account by $2.2 billion, and its shipbuilding account of $22.7 billion by $2.1 billion.