The Future of Defense

S&P remains positive on defense contractors amid worries about the outlook for weapons-systems programs after Rumsfeld's resignation

Come 2007, the Democrats will have majorities in both chambers of Congress, and the president has acted to replace the Secretary of Defense. By removing Donald Rumsfeld, the president has acceded to the Democrats' No. 1 stated priority on Iraq. Beyond this, and vague talk of troop pull-outs, it seems to us the Democrats have no plan for the war (or, if they do, they're keeping it hidden for now).

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