Congress has reached agreement on the Fiscal 2006 defense appropriations bill. There was no word yet on just what the final total would be, reports Congressional Quarterly. The Senate and House each cut the Administration’s defense request in their separate measures, $7 billion and $3 billion respectively. Rumsfeld has said he will urge President Bush to veto the spending bill if it comes in under the request. Of course, we are still waiting to see whether there will be a companion authorization bill. Apparently, the Senate has been too busy on other matters.
Lockheed Martin projects more than a billion dollars of losses on a classified program, but company officials said April 23 they are confident it will turn profitable by 2028 and become a "franchise" system in the U.S. military.