Tick tock. 01/01/2013 is fast approaching. And since the republicans have already voted for it there will be no retreat from the White House.
Defense Cuts of $500 Billion Vex Officials as Ax Nears By Laura Litvan - Jul 2, 2012 12:00 AM ET
...With $500 billion in cuts to U.S. defense programs over 10 years set to begin on Jan. 2, industry contractors and analysts say the challenge isn’t only the amount of the cuts, it’s how they’ll be managed. They are waiting to hear if the approach in Anderson’s era will apply -- the White House hasn’t said whether it’ll give the Pentagon the authority to make choices within broad categories of spending, or whether it’ll require rigid program-by-program cuts.
That lack of information is creating uncertainty for weapons makers and services contractors, who must proceed as though they won’t have flexibility in applying the cuts.
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