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About 150,000 people live on Fort Bragg or work there daily, but surrounding businesses in Fayetteville, N.C., are worried about the impact of pending cuts in the defense budget. One factor already hurting the local economy is the housing bubble created when developers built too much housing in anticipation of the expected influx from Fort McPherson …READ MORE
A proposal by House Armed Services Chair Howard “Buck” McKeon would postpone government-wide spending cuts until fiscal 2014 by trimming the federal workforce. McKeon’s proposal would reduce the federal workforce by 10 percent over the next decade through attrition, saving $127 billion …READ MORE
Prospects for a plan by five Republican senators to undo the $500 billion in across-the-board defense cuts triggered by the supercommittee’s failure are not particularly high, primarily because the lawmakers favor replacing the cuts with reductions in discretionary spending from other agencies over tax increases …READ MORE
The Rome Advisory Board met to let the community know what is at stake as the Defense Department tries to slash $450 billion, and possibly much more, from its budget over the next 10 years. Even though Griffiss Air Force Base, located in central New York, closed following the 1993 BRAC round, it remains the home to several defense facilities …READ MORE
Despite reaching agreement on a nine-bill omnibus, Democrat conferees reportedly have held off signing the conference agreement for the fiscal 2012 spending package to force Republicans to stay in Washington and negotiate a deal to extend a one-year reduction in payroll taxes …READ MORE