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Defense industry bracing for supercommittee impact

Predictions about the effects of the Congressional supercommittee’s failure to reduce the federal deficit are dire. The smallest Air Force in history. The smallest Army since 1940. The least number of Navy ships since 1915, and the loss of thousands of civilian jobs — all thanks to the automatic Department of Defense budget cuts of… Continue Reading Defense industry bracing for supercommittee impact

The failure of the congressional “supercommittee” to agree on a deficit-reduction plan is affecting construction budgets, according to the Associated General Contractors of America. The committee of six Republicans and six Democrats was charged to create a plan to cut at least $1.2 trillion from the budget. When the group announced its failure Nov. 21,… Continue Reading Supercommittee failure to inhibit construction funding

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Democrats dismiss GOP deficit offer

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Members of a special deficit-cutting panel are getting renewed encouragement from their colleagues even as they remain far apart on taxes and cuts to so-called entitlement programs like Medicare. And some are taking a glass-half-full view of a Republican offer this week in which even GOP hardliners on taxes showed new flexibility on tax revenue… Continue Reading Democrats dismiss GOP deficit offer

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House Democrats warn supercommittee against cuts

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House Democrats are advising Congress’ supercommittee to create jobs, raise revenues and avoid damaging cuts to crucial public works, education and health programs as the panel searches for ways to curb the government’s growing debt. A day ahead of a deadline for submitting advice to the supercommittee, minority Democrats from 16 House committees released letters… Continue Reading House Democrats warn supercommittee against cuts

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For the dozen lawmakers tasked with producing a deficit-cutting plan, the threatened “doomsday” defense cuts hit close to home. The six Republicans and six Democrats represent states where the biggest military contractors — Lockheed Martin, General Dynamics Corp., Raytheon Co. and Boeing Co. — build missiles, aircraft, jet fighters and tanks while employing tens of… Continue Reading ‘Doomsday’ defense cuts loom large for select 12

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