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You are here: Home / Government Contracting News / Surge in canceled deals offers preview of sequester damage ahead

August 23, 2012 By AMK

Surge in canceled deals offers preview of sequester damage ahead

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.

Keep reading this article at http://www.washingtonpost.com/business/economy/surge-in-canceled-deals-offers-preview-of-sequesters-effects/2012/08/19/51832c18-e730-11e1-a3d2-2a05679928ef_story.html.

Filed Under: Government Contracting News Tagged With: budget cuts, DoD, sequestration

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