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Todd Harrison: Defense Procurements Could Fall to $62B Per Year

money-graphA Center for Strategic and Budgetary Assessments analyst predicts that defense budget may drop as much as $415 billion if sequestration remains in place over the next decade, Aviation Week reported Friday.

Michael Bruno writes CSBA defense analyst Todd Harrison said Thursday that the military’s authorized procurement would fall to $62 billion on an annual basis based on analysis of historical trends and across-the-board cuts mandated by the Budget Control Act.

“For the first time in modern history, [the Pentagon] would be spending more on developing new technologies and systems than procuring equipment,” Harrison writes in a report obtained by Aviation Week.

He added the U.S. defense industrial base could follow an arsenal model, where an quasi-state organization provides niche services such as shipbuilding or tactical fighter production.

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