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Defense suppliers fear cuts

from The Wall Street Journal

Hopes are dimming in the U.S. defense industry that Secretary of Defense Robert Gates might be able to stave off serious cuts in U.S. weapons buying programs. Earlier this year, Mr. Gates launched a drive to identify wasteful or duplicative spending at the Pentagon, aiming to realize savings of $100 billion over the next five years. Mr. Gates' plan was to plow those savings back into weapons modernization projects, ensuring that American troops overseas would be fully equipped even as military spending flattened out. But with President Barack Obama's deficit commission recommending cuts in defense spending and an incoming Congress bent on budget cutting, many defense contractors doubt the Pentagon will actually get to keep any money it saves. more

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