31 May '13, 2am

FY15 Guidance Takes Sequester Into Account

WASHINGTON — After years of not preparing for mandated sequestration spending cuts, the Pentagon is now incorporating different levels of budget reductions in its future planning. US Deputy Defense Secretary Ashton Carter, in a May 29 memo to senior defense officials, told the services to prepare for three different scenarios for fiscal 2015: one that reflects President Barack Obama’s fiscal 2014 budget proposal, a second that is 5 percent less and a third that is 10 percent less. “[W]e do need to develop options in the event that fiscal realities differ from the funding level in the President’s budget,” Carter said. The 10 percent cut would reflect the impact of full sequestration, which is roughly a $500 billion reduction over a 10-year period beginning in 2013., while the 5 percent reduction reflects roughly half. In April, the Pentagon sent Congress a budget proposal f...

Full article: http://www.defensenews.com/article/20130530/DEFREG/306030008

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