Defense Spending

Defense Industry Worried About Defense Spending Cuts

Despite sequestration being ditched and no interest for cuts by the Washington establishment

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The defense industry is worried last week's budget deal on taxes could damage its negotiating position for the next "fiscal cliff" deadline two months from now, when across-the-board spending cuts would take effect.

The deficit debate is shifting from taxes toward spending cuts and the debt limit, where there will be more of a focus on new cuts to the Pentagon.