Defense Industry Braces For Major Spending Cuts -- CNN
Congress and the Obama Administration will need to strike a new deal in late March to avoid chopping billions from defense budgets. The major contractors are preparing now.
FORTUNE -- Budget watchdogs of all political stripes and military contractors are sparring furiously over the effects of truncated government spending, a matter where emotions soar over such hot-button issues as unemployment and national security.
While even the most ardent military spenders concede that national defense must come at a lower price tag, just how modest that price needs to be is the debated question. As the campaigns in Iraq and Afghanistan wind down, Pentagon contracting giants have been preparing for billions of dollars in defense spending cuts.
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