Defense Budget Reflects Shifting Priorities
U.S. military spending cuts urged by Defense Secretary Robert M. Gates on Apr. 6 represent a fundamental shift in military priorities and strategy that could save large sums of money for the government. But even though a number of high-priced weapons programs are being pegged for the scrap heap, investors seemed relieved that cuts had not gone deeper. They also seemed heartened by the prospect of gains on other projects—and possible restoration by Congress of at least some of the money for programs such as the F-22, whose builders astutely spread production across 44 states.
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