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Tag Archives: Defense Department

Senators Propose Pentagon Audit Legislation

Nine senators are proposing a bill that aims to create incentives and accountability standards for auditing the Defense Department, Sen. Joe Manchin’s (D-W.Va) office announced Thursday. Manchin, Tom Coburn (Okla.), Kelly Ayotte (R-N.H.), Scott Brown (R-Mass.), John Cornyn (R-Texas), Chuck Grassley (R-Iowa), Ron Johnson (R-Wisc.), Claire McCaskill (D-Mo.) and Rand …

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Senate Appropriations Subpanel OKs $604B in 2013 Defense Funds

The Senate Appropriations defense subcommittee recommends moving $5 billion from the Defense Department’s base budget into a separate spending bill for Afghanistan operations, Defense News reports. Kate Brannen reports the transfer would bring the Pentagon’s total budget to nearly $604 billion, including $511 billion for base funds and $93 billion …

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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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