Defense spending to continue in 2009

by: Matthew Potter
September 9, 2008

Category: Lockheed Martin | RSS 2.0

Lockheed Martin’s CFO, Bruce Tanner, gave an interview to CNNMoney.com. His key point is that with either the election of Senator Obama or McCain there will be no real downturn in defense spending. Many have felt that the Democrat might slash defense spending in order to pay for the other programs he has proposed. The last two Democratic administrations, Carter and Clinton, are not well remembered within the Department of Defense due to their reduction in funding. Both of these administrations cut back heavily on spending, especially in the area of investment for new weapon systems. Tanner feels that with the current threat to the US from terrorism and a Congress willing to support spending there will be no real downturn. While Obama talked in the past of cutting some systems, such as MDA or the Army’s FCS, he is committed to fighting the war in Afghanistan which will sustain some level of spending.

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