A year after industry groups such as the Aerospace Industries Association started warning about the threatened U.S. government budget reductions known as “sequestration,” the White House has offered specifics about what the impact would be for the Department of Defense (DoD) and other federal agencies.
Military budget of the United States
The ongoing impasse in Washington over the Fiscal Year 2011 U.S. federal budget means that the Pentagon can spend only at 2010 budget levels and cannot start new programs. Meanwhile, it has submitted a budget request of $553 billion for 2012, compared with $548 billion requested for 2011. But the mood in Congress has swung in favor of serious efforts to cut deficit spending. The years of burgeoning defense budgets in the U.S.