Defense Industry Fears More Budget Cuts
BY NATHAN HODGE
Wall Street Journal
July 14, 2011
Arms manufacturers are trying to fend off a new round of defense-budget cuts they fear could result from deficit-reduction talks under way in Washington.
The White House and congressional leaders are deep in negotiations over lifting the federal borrowing limit. Those talks, if successful, are likely to call for trillions of dollars in government spending cuts over the next decade.
Against that background, the Aerospace Industries Association, the defense industry’s main trade group, has launched a push on Capitol Hill to encourage lawmakers to avoid what it sees as potentially drastic cuts in military spending. Association Chief Executive Marion Blakey and senior company officials are meeting with members of Congress this week, as talks continue over the debt plan.
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