Last week's issue of Defense News ran a front page story headlined "Big Firms Hunker Down, Cut Jobs and Costs" in anticipation of reduced military production that will be promoted by the Obama administration supposed effort to reduce government spending. That defense spending is not responsible for the massive budget deficits, even in the midst of two foreign wars, is beside the point. Last year, as the stimulus package was being put together to combat the Great Recession, the Pentagon was the only cabinet agency asked to make program cuts. And on Sept. 16, Senate Appropriations Committee chopped $8.1 billion from the 2011 defense budget, with the largest cuts coming in two major production programs; the Air Force ‘s F-35 joint strike fighter and the Navy's littoral combat ship (LCS).Defense spending from 2003 to 2008 did go up, mainly due to combat operations in Iraq and Afghanistan. The increase was from $404.7 billion in 2003 to $616.0 billion in 2008. This increase...(Read Full Post)