News
Downed Drone Could Cost Navy Nearly $200 Million
The Navy drone aircraft that crashed in rural Maryland Monday likely will cost the military branch nearly $200 million at a time when the military's budget is shrinking.
Layoff Threats Put Congress on Notice
Facing economic uncertainty, defense contractors are plotting to spur Congress to nix the automatic budget cuts set to begin next year.
Pentagon Could Keep Big Weapons Despite Automatic Spending Cuts
The Pentagon could hold onto its crown jewel weapon systems even though looming automatic federal spending cuts would inflict a $54 billion gash in the 2013 defense budget, military budget analysts say.
Bernanke: US is Facing “Fiscal Cliff”
Fears about a looming fiscal crisis at the end of the year are starting to pinch job growth and threatening to undercut the nation’s fragile recovery, a growing number of economists and employers say.
Sub Fire Could Have Ripple Effects for Navy Fleet
The Navy is evaluating whether it's worth spending millions of dollars to repair the USS Miami, the nuclear-powered submarine damaged in a fire in a Maine shipyard.
Kelly Ayotte: Reversal on War Funds “Deeply Troubling”
/.../In November, Panetta had said OCO funds would be exempt from sequestration. But Pentagon officials recently came to the opposite conclusion after discussing the issue with OMB, Pentagon spokesman Capt. John Kirby tells us.