SUBSCRIBE HERE
Unpredictable Pentagon Spending Causing Vendors to Leave Marketplace; Research and Development Stagnant | USNI News

Unpredictable Pentagon Spending Causing Vendors to Leave Marketplace; Research and Development Stagnant | USNI News

Congressional spending has become so unpredictable, a panel of Pentagon experts said the defense industrial base is shrinking and the weapons systems of tomorrow are not being developed today.

Speaking Monday at the Washington-based Center for Strategic and International Studies (CSIS), a panel of experts responded to the findings of a report quantifying how defense spending cuts, enacted by the Budget Control Act of 2011, has caused a dramatic number of defense industry suppliers to leave the market while chilling industry’s research and development activities.

“Though the defense budget had been declining in the years leading up to sequestration in FY 2013, the enactment of sequestration and budget caps marked a severe market shock that had a considerable impact on the defense industry,” said the report, co-produced by CSIS and the Aerospace Industries Association, and released in late December.

Source: Unpredictable Pentagon Spending Causing Vendors to Leave Marketplace; Research and Development Stagnant | USNI News