A surge in canceled U.S. contracts as war funding winds down may be a preview of the damage ahead for government vendors under looming automatic budget cuts.
The federal government terminated 13,579 contracts in the fiscal year ended Sept. 30, more than double the 5,692 it ended in fiscal 2006, according to procurement data. The value of canceled deals was $2.15 billion last year, compared with $416 million five years earlier.
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