Rapid Fire March 1, 2013: Conventional Wisdom DeniedMar 01, 2013 11:00 UTC by Defense Industry Daily staff
- When a so-called super-committee was formed to negotiate US federal budget trade-offs, the conventional wisdom was that a lot of drama would be followed by a final hour deal. When the committee failed, it set in motion a sequestration trigger that, again, most observers thought would not come to pass. Yet, here we are, and it’s on, as last-minute bills failed. Statements from Speaker of the House John Boehner | Senate Majority Leader Harry Reid | President Obama. The pattern is clear: the other side did it.
- The next big fiscal milestone is March 27 when the Continuing Resolution (CR) currently taking care of FY13 spending – by definition at FY12 levels – is set to expire. If the CR is simply extended through the rest of the fiscal year, then new programs will suffer the most as there was no, or not enough, funding for them in the previous fiscal year.