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Lockheed’s Bob Stevens on Sequestration: “We are hungry for more guidance”

Lockheed Martin Chairman and CEO Bob Stevens outlined the firm’s recent cost-cutting efforts and potential effects of sequestration during testimony before the House Armed Services Committee on Wednesday. The Defense Department is cutting $480 billion from its budget over the next decade and that amount could swell to nearly $1 trillion if sequestration takes effect …

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CBO: Pentagon Five-Year Budget Plan $123B Over Expectations

According to a recent Congressional Budget Office analysis, the Defense Department’s most recent five-year budget plan will run $123 billion, or 5 percent more than expected. CBO analyzed the Pentagon’s future years defense program and its impact between fiscal years 2013 and 2017, through 2030. The plan describes the department’s base …

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Report: GAO Offers Recommendations on Improving Pentagon’s Electronic Warfare Strategy

The Government Accountability Office recently released a report regarding the Pentagon’s incomplete electronic warfare strategy, Information Week reports. Billions of dollars have reportedly been allocated for weapons and communications systems which are hinging on the electromagnetic spectrum. The review found the Pentagon has yet to implement a detailed implementation plan …

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Congress to Deliberate Future Plans for DHS

Both the House and Senate are scheduled to hold a variety of hearings to deliberate future plans regarding the Department of Homeland Security, The Washington Post reports. The department was established as a stand-alone entity in November 2002 with the passage of the Homeland Security Act by Congress. Today, it …

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Pentagon Wants to Construct Oil Refineries for Cheaper Biofuels

The Pentagon is moving forward with plans to build refineries that can produce competitively priced biofuels, Reuters reports. The government is preparing to allocate $210 million in matching funds to help construct three refineries that would have the potential to produce 10 million gallons of biofuel annually for the military. …

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