What would defense spending look like with sequestration?
- By Defense Systems Staff
- Aug 23, 2012
The Congressional Budget Office says that the United States might slip into a recession if Congress fails to modify planned spending cuts and tax increases set to start next year, reports Defense News.
The Budget Control Act of 2011 if it goes into effect would mandate nearly $500 billion in military budget cuts over the next decade. If the sequestration cuts occur, the CBO projects a $547 billion baseline defense budget in 2013, $509 billion in 2014, $508 billion in 2015, $520 billion in 2016 and $526 billion in 2017, the story said.
Without sequestration cuts, CBO projects defense spending at $571 billion, $560 billion, $561 billion, $574 billion and $581 billion across that same five-year period, the story said.