U.S. Arms Makers See Some Hope for Pentagon Budget Fix
July 11, 2012
Weapons industry executives say they are growing slightly more hopeful that U.S. lawmakers may yet avert another $500 billion in budget cuts facing the Pentagon come January, on top of $487 billion in cuts already on the books.
Marion Blakey, president of the Aerospace Industries Association, said a growing number of U.S. decision-makers appeared to understand the damaging effect that the uncertainty surrounding the reductions was having on investment and hiring.
Blakey and AIA, the largest aerospace industry trade group, have brought together companies, unions and elected officials to speak out against the possible budget reductions in recent months, but she said the group still had "more work to do."