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Saturday, March 31, 2012

Could Sequestration Equal Devistation For The Military?

Pentagon leaders have been warning for months that sequestration would equal "devastation" for the military itself. They told Congress it would also take a massive toll on defense contractors. Frank Kendall, DoD's acting acquisition chief, told the Senate yesterday that another $500 billion in budget cuts would affect "hundreds of thousands" of jobs in the defense industry. DoD is in the middle of a project to build a comprehensive map of the entire defense industrial base, so it can keep tabs on how existing budget cuts are affecting contractors. Officials are especially worried about third-and-fourth tier firms. Kendall said DoD would intervene to keep firms from going under in some cases, but those interventions would have to be few and far between.

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