http://www.bloomberg.com/apps/news?pid=20601087&sid=ax3FuUvS0Y6g&refer=homeLockheed Martin Corp.’s F-22 fighter jet and Boeing Co.’s Future Combat Systems are among programs at risk as the Obama administration begins to close the “spigot of defense spending” that opened with the 2001 terror attacks.
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Turning Off ‘Spigot’
Gates, who was hired by President George W. Bush and kept on the job by Obama, in January said the “spigot of defense spending that opened on 9/11 is closing.” The former director of the Central Intelligence Agency has conducted his weapons review in secrecy in an effort to reduce leaks and lobbying. He’s scheduled to announce his decisions at a Pentagon news conference at 1:30 p.m. tomorrow.
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‘Fundamental Shift’
Obama on Feb. 24 called upon the Pentagon to “reform our defense budget so that we are not paying for Cold War-era” weapons. The changes Gates is contemplating “are not changes around the margins,” Pentagon spokesman Geoff Morrell told reporters. “This is a fundamental shift” in how the Pentagon buys major systems and supports combat troops, he said.
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I'd like to 'fundamentally shift' the war industry right out of business