Defense industry is pessimistic about deal to prevent sequestration

12/25/2012 | Hill, The

The Pentagon and defense industry are preparing for $500 billion in budget cuts that are scheduled to go in effect at the end of the year, as hopes fade for a deal to prevent sequestration, analysts say. "I think there's a creeping sense of pessimism in the defense sector. ... I don't think most people in the industry really understand why their pleas have [been ignored]," defense analyst Loren Thompson says.

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