October 22, 2012

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MILITARY AIRCRAFT UPDATE

Unexpected Headwinds, Tailwinds for Military Programs

A year ago at this time, the U.S. Congress was expecting its socalled “super committee” to work out a deal to avoid the automatic budget cuts now famously referred to even in the presidential debates as “sequestration.” Indeed, many observers thought the Pentagon had enough trouble digesting the more than $450 billion in cuts to planned growth over a decade that were mandated by the White House, in addition to earlier efficiency drives started by then-Defense Secretary Robert Gates to find $178 billion in internal savings, while also canceling or deferring about $300 billion in future acquisitions.