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US budget reform commission targets Department of Defense16 Nov 2010Source: Supply Management The US presidential commission for budget reform has pushed for a 15 per cent reduction in the Department of Defense’s procurement spending to save $20 billion by 2015. The National Commission on Fiscal Responsibility and Reform is trying to cut more than $200 billion out of the US budget by 2015 and has said half of the savings ($100 billion) could come from a smaller defence budget. Procurement spending at the Pentagon has doubled in the past 10 years. Since 2003, the Department of Defense has received an extra $214.5 billion in war-related procurement funds, (more than twice as much as its annual procurement spend). The Department of Defence estimated procurement spending in 2015 would total $137.5 billion. A 15 per cent cut would reduce fiscal 2015 procurement to a total of $117.5 billion. On November 10, the commission’s draft proposals recommended slashing or eliminating Pentagon orders for big weapon systems to cut the US budget deficit. Read more here |
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