President Obama on Tuesday signed the Budget Control Act of 2011 into law. This legislation raises the debt ceiling between $2.1 trillion and $2.4 trillion so that the US government will not default on its bills. The act also establishes discretionary spending limits for the period of Fiscal 2012 to Fiscal 2021, although it’s not exactly clear what the ramifications will be for the Defense Department. USA Today reported Tuesday that the budget act could result in DOD cuts of up to $900 billion over 10 years, more than doubling the $400 billion in cuts for DOD over 12 years that Obama proposed in April. Conversely, McClatchy Newspapers reported (via the Kansas City Star) that the Pentagon actually could benefit from the legislation. McClatchy claims that the debt plan might only trim $350 billion. Continue
Boeing Claims Progress on T-7 and Other Challenged Programs
April 25, 2025
Boeing appears to have become to overcome the problems that led to billions in losses on fixed-price defense contracts in recent years, point the company back toward profitabily, says Boeing president and CEO Kelly Ortberg.