Government spending

October 28, 2011 - 10:33am
Marion Blakey

An economic impact analysis commissioned by the Aerospace Industries Association (AIA) predicts that more than one million jobs will be lost in the aerospace and defense industry, if the U.S. Congress fails to reach an agreement that would prevent automatic government spending cuts.

August 15, 2011 - 5:25am
U.S. Secretary of Defense Leon Panetta and Navy Admiral Mike Mullen, chairman...

Defense spending cuts of some $350 billion over the next decade contained in the new debt-limit legislation passed by the U.S. Congress correspond with the numbers expected from an earlier goal advanced by President Obama. But the Pentagon leadership described the potential of $600 billion more in automatic spending cuts as disastrous.

March 28, 2007 - 10:16am

The nonpartisan Congressional Budget Office (CBO) in late January announced that the federal deficit is expected to climb to $477 billion this year, up from $375 billion last year. It also estimated that, in the next 10 years, the government will accumulate nearly $2.4 trillion in additional debt.

 
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