'Cliff' Deal Gives Defense a Reprieve
January 2, 2013
The “fiscal cliff” deal gives the Pentagon and defense industry only a temporary reprieve Tuesday from across-the-board spending cuts.
The eleventh-hour agreement did little to address the defense industry's biggest complaint about the fiscal cliff: Possible cuts have created an uncertainty that's terrible for business.
“[I] hope they come to an arrangement sooner rather than later because the continued uncertainty is really bad for the industry on the whole,” said Michael Herson, president of American Defense International, one of the largest defense lobbying firms.
Todd Harrison, a defense analyst at the Center for Strategic and Budgetary Assessments, said the two-month delay failed to address the primary reasons that sequestration is bad policy.