By Jennifer Rizzo
Defense company executives conceded on Monday that their industry would likely see billions more in cuts even if Congress reaches a deal to avoid the fiscal cliff.
"We need to stop believing or pretending that there is a scenario out there that offers no defense cuts," said David Langstaff, president and chief executive of TASC, Inc. "The question is whether we make them responsibly or irresponsibly."
The automatic cuts, referred to as sequestration, are set to go into effect on January 2 if the White House and Congress cannot agree on where $1 trillion in federal savings over the next decade should come from.
The Pentagon's budget would be axed by $500 billion over that time. That would be on top of a similar cut the Pentagon is already committed to achieving.
Langstaff discussed the threat of the looming budget cuts at the National Press Club along with three other defense industry executives: Wes Bush, CEO of Northrop Grumman; David Hess, president of Pratt & Whitney; and Dawne Hickton, CEO of RTI Metals.
By Pam Benson
Spending by the intelligence community dropped for the second year in a row following the dramatic increases in the years after the 2001 terrorist attacks and it's a trend that will continue.
Director of National Intelligence James Clapper released a statement on Tuesday revealing the budget for national intelligence programs in fiscal year 2012 was $53.9 billion, a 1 percent decrease from the previous year.
And according to the Defense Department, the amount spent for military intelligence dropped by 10 percent to $21.5 billion.
The overall spending of $75.4 billion in 2012 represents a 4% cut in intelligence spending.
The fiscal year ended on September 30.
Overall intelligence spending peaked in fiscal year 2010 when the United States spent a total of $80.1 billion.
By Larry Shaughnessy
A new report shows a trend of increased defense spending among Asia's major military powers, with China's military budget accounting for nearly half of all spending in the region. It's a trend that reflects one reason why the Pentagon is heavily focused on increasing its presence in the region.
According to official reports from China, defense spending there has increased to $90 billion in 2011 from $22.5 billion in 2000. It should be noted that skeptics believe China's official numbers are purposely low. For example, the Stockholm International Peace Research Institute estimated that China's 2011 defense budget was much closer to $142 billion.
By Pam Benson
Looming across-the-board cuts to the intelligence community budget will be devastating if Congress fails to act according to the nation's top intelligence officer.
"If sequestration is allowed to happen, it will be disastrous for intelligence," Director of National Intelligence James Clapper told a group of intelligence officers and contractors gathered at a conference in Orland on Tuesday.
Clapper said every major intelligence program is "in jeopardy of being wounded" because the budget deal Congress passed last year does not allow the intelligence community any flexibility to prioritize needs.
"The current arrangement pre supposes that everything we do in intelligence is of equal import and we all know that's not the case,' Clapper said.
The cuts would be approximately 10% and would impact programs as well as personnel.
Republican presidential nominee Mitt Romney delivered highly publicized remarks on foreign policy Monday afternoon, two weeks before facing President Barack Obama in a security focused debate. The former governor took every opportunity in his 20-minute speech at the Virginia Military Institute to point out the perceived failures of the Obama administration. CNN conducted fact checks on several of Romney’s assertions to gauge their validity.
Throughout his campaign, Romney has cast himself as an ardent backer of Israel - and, either directly or indirectly, suggested that President Barack Obama hasn't been similarly supportive. Monday was no exception as Romney stated that the relationship between Obama and Israeli Prime Minister Benjamin Netanyahu "has suffered great strains" in recent years.
By Mike Mount, CNN Senior National Security Producer
Chief executives of leading defense companies told a House panel Wednesday they would have to start informing employees just before the 2012 election that their jobs would terminated in January if Congress fails to make a budget deal, triggering hundreds of billions of dollars in defense cuts that would ripple through the defense industry sector.
The four CEOs testified before the House Armed Services Committee and echoed what many defense industry officials have been sounding the alarm about for months: The automatic cuts, known as sequestration, would be devastating to the defense sector and the economy.
CNN's Ayesha Durgahee gets a sneak peek at what's hot at this year's Farnborough International Airshow.
From Mike Mount
CNN Senior National Security Producer
Congress is asking top U.S. defense contractors to disclose their corporate plans if the military is forced to cut $500 billion from its budget early next year, putting the companies in the middle of a political fight between Republicans and the White House.
In a letter sent Thursday to 15 major defense contractors by U.S. Sen. John McCain, R-Arizona, the ranking member of the Senate Armed Services Committee, and six other GOP senators as well as independent Sen. Joseph Lieberman, Connecticut, the companies were asked to answer five questions about the effect the potential massive cuts, known as sequestration, would have on their bottom line, employees and suppliers.
By Jennifer Rizzo
The Marines plan to swell the arsenal of their newest small drone over the next five years by more than 12 times the current level - the largest proportional increase of any of the military's unmanned aircraft.
The RQ-21A Small Tactical Unmanned Aircraft System (STUAS) was delivered to the military earlier this year. The Marine Corps currently has eight of the unmanned aerial vehicles and plans on acquiring a total of 100 by fiscal year 2017, according to a Defense Department Congressional report.
The drone is based off of the smaller unmanned Scan Eagle. Still acting as an intelligence, surveillance and reconnaissance tool, the RQ-21A is bigger than its ancestor, the Scan Eagle, making it capable of carrying more equipment.
By Larry Shaughnessy
Sequestration is like the weather in Washington - everybody talks about it, no one likes it, and no one knows what to do about it.
But the Senate has agreed to find out exactly how bad it - sequestration, that is - will be.
Sequestration is the name given the automatic across-the-board spending cuts mandated by Congress if planned budget cuts could not be agreed to.
Sen. John McCain, R-Arizona, a vocal critic of sequestration, teamed with Sen. Patty Murray, D-Washington, to offer an amendment passed by the Senate Thursday examining what sequestration would really mean. FULL POST