• Pentagon’s Budget-Cutting Exercise under Way, Panetta Says

    DOD’s effort to slash several hundred billion dollars from of its spending plans is ongoing and no decisions on cuts have been made to date, Secretary Leon Panetta said Tuesday. “I am committed to making these decisions based on the best advice that I receive from the service secretaries and from the service chiefs as well as the combatant commanders …

  • Avoiding Automatic Spending Trigger Isn’t Sufficient to Declare DOD Budget Victory

    Since lawmakers reached agreement on a deal to raise the nation’s debt ceiling early last month, Pentagon leaders and elected officials have focused on the onerous automatic cuts in defense spending that would occur if the congressional deficit reduction committee created under the agreement fails to find at least $1.2 trillion in overall budget savings over the next 10 years. Defense Secretary Leon Panetta, for one, has been quite clear about the “potentially devastating” impact to the military that would follow automatic cuts …

  • Brunswick LRA, Navy Agree on Revenue-Sharing Deal for 1,100 Acres

    The LRA for the former Naval Air Station Brunswick became the latest beneficiary of recent changes to the rules governing EDCs after reaching a deal with the Navy over the transfer of about 1,100 acres at the base located on the coast of Maine. Under the agreement, the LRA will sign a $3 million promissory note with the Navy, requiring the authority to make annual payments over 20 years …