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Posts Tagged ‘debt ceiling agreement’

Both Sides Indicate Need to Target Sequester Cuts

  • October 27, 2013
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Comments by Democratic and Republican leaders last week signaled a common goal of addressing automatic spending cuts during deliberations of the House-Senate budget conference. Whether the two parties are willing to make the necessary compromises to “buy back” some or all of the sequester cuts is still an open question. Rep. Tom Cole (R-Okla.) seemed to create an opening when he told Bloomberg Television he would support new revenues to reach a deal …

House Republicans Urge Solution to Reverse Defense Cuts

  • October 24, 2013
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In a letter to the leaders of the House-Senate budget conference, 30 of 34 Republicans on the House Armed Services Committee urge the panel to find a way to preserve defense spending as it searches for a bipartisan agreement over the fiscal 2014 budget. The lawmakers argue that the defense budget should be set — at a minimum — above sequestration levels …

Past Drawdowns Inflicted More Severe Spending Declines, Report Says

  • October 24, 2013
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The automatic spending cuts triggered by sequestration that have been universally decried as threatening national security cut the Pentagon’s budget much less drastically than was the case during military drawdowns following past wars. As a result, defense spending could drop significantly lower than it is slated to under sequestration, which defense advocates have considered a worst-case scenario since the failure of the supercommittee, according to a report released Thursday by the Center for Strategic and Budgetary Assessments …

Sequester Relief Likely Best Hope for Budget Committee, Reid Says

  • October 24, 2013
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The most ambitious result that can be expected from the House-Senate budget conference is an agreement to address automatic spending cuts, Senate Majority Leader Harry Reid (D-Nev.) said Thursday, discouraging hopes that a “grand bargain” deficit reduction deal that reforms entitlement programs and generates new tax revenue is possible. “There is not going to be a grand bargain,” said Reid …

Army to Reduce Headquarters Staffing by 25 Percent

  • October 23, 2013
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In an effort to find additional savings that can help maintain the service’s force structure, Army Secretary John McHugh has directed senior Army officials to pare headquarters staffs by 25 percent rather than the 20 percent cut Defense Secretary Chuck Hagel has called for. “The chief and I felt very strongly that headquarters reduction was a place that we could just do things more smartly and do it with fewer people,” said McHugh …

Services to Prepare Separate FY’15 Budgets

  • October 22, 2013
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In a nod to the strong likelihood that sequestration isn’t going away anytime soon, the military services and defense agencies are preparing separate fiscal 2015 budget proposals for Congress. One will assume the deep spending cuts remain, while the other will assume Congress somehow reaches a deal to reverse them, reported CQ …

No Shortage of Interest on Budget Conference in Replacing Defense Cuts

  • October 22, 2013
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Advocates for defense spending from both parties on the House-Senate budget conference will be striving to reach agreement on a mechanism to avoid slashing DOD’s fiscal 2014 budget $20 billion below last year’s level. The FY 2014 continuing resolution signed last week continues spending on defense programs at the FY 2013 figure of $518 billion, but the 2011 Budget Control Act caps such spending this year at $498 billion …

Reid Rejects Surrendering Entitlement Spending to Preserve Defense Programs

  • October 20, 2013
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Senate Majority Leader Harry Reid (D-Nev.) poured cold water on the much-talked-about formula of reversing one or more years’ worth of defense cuts in exchange for reductions in entitlement programs such as Social Security and Medicare. In the immediate aftermath of last week’s agreement to reopen the government and extend the nation’s debt ceiling, Reid insisted that any deficit reduction deal include a mix of entitlement reforms along with increased tax revenue …

Defense Industry Ramps up Campaign against Sequestration

  • October 17, 2013
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The nation’s largest defense companies are rallying to overturn the deep spending cuts triggered under sequestration through social media and outreach to state and local officials. A campaign the Aerospace Industries Association launched last year was unsuccessful, and this year’s effort will focus on “increasing engagement back home at the grass-roots level” as well as reaching federal lawmakers whose districts rely on the defense industry for jobs …

Skepticism Remains over Prospect for Deal Reversing Defense Cuts

  • October 17, 2013
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A number of Republican lawmakers would like to see deep spending cuts scheduled to hit DOD’s budget through fiscal 2021 eliminated or, at least, peeled back, but the prospects for the conference committee charged with hashing out an FY 2014 budget to reach an agreement to replace the sequester cuts with alternate savings still are highly uncertain. Republican lawmakers — including Sens. Lindsey Graham (S.C.), John McCain (Ariz.), Susan Collins (Maine) and Bob Corker (Tenn.) — trying to preserve defense spending point to changes in entitlement programs as the best formula to find the necessary savings …

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