The former head of Army logistics tried to assure a nervous audience of defense industry executives last Thursday (2/21/2013) that “it’s not all doom and gloom” for their bottom lines despite the massive budget cuts underway as the nation’s military rebalances after nearly 12 years of war.
“Our budget still has almost $500 billion” at the baseline even when the impact of major automatic defense spending cuts under the “sequestration” process on March 1 is taken into account, said Army Maj. Gen. Lynn A. Collyar, former director of Defense Logistics Agency’s logistics operations.
“That’s a lot of money,” Collyar said of the $500 billion. “We can’t afford to just throw money around,” he said, but “there is still a lot of money out there” for companies that can adapt to the new era of declining defense budgets.
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