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Steve McIntosh Report Blog



Pentagon is not planning for budget cuts

Add our national defense as one more area of the federal government that seems confused by the uncertainty of congress and the president. For weeks Defense Secretary Leon Panetta has warned us about 500 billion dollars in Pentagon spending cuts if the so-called “supercommittee” bombed. The Seattle Times reports that now Pentagon officials are not even planning where to cut the spending, which is to take effect in January of 2013.
Analysts say the cuts will take Defense back to 2007 levels, but it can be done. They look at “the possibility of cutbacks to weapons programs, a further reduction in the size of the Army, large layoffs among the Defense Department’s 700,000 civilian employees, and reduced military training time”.
In light of this, will the Air Force refueling tanker project go ahead? And if it does, will Boeing honor its commitments to do at least part of the work in Wichita?
Forget about change, Americans need to learn to live with constant uncertainty.
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Our thought for today is from Harold Geneen:
 
“Uncertainty will always be part of the taking charge process.”


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Topics : Business_FinancePolitics
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People : Harold GeneenLeon Panetta




 
11/30/2011 1:11AM
Pentagon is not planning for budget cuts
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