Rapid Fire 2011-07-05: CBO on 2012 FYDP

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* The US Congressional Budget Office warns that the DoD’s budget plans are too optimistic. The Long Term Implications of the 2012 Future Years Defense Program [PDF] expects DoD annual costs to be $25 billion higher by 2016. * Russia hopes to sell $11 billion worth of defense exports in 2011. Combat aircraft for China, India and other emerging defense markets are expected to provide the majority of sales. * Meanwhile, several senior officers have resigned from the Russian military over the Head of the General Staff’s plans for reform. * As the United States prepares to make substantial cuts to its defense expenditure, an article warns that the long term beneficiary will be China. * The UK House of Commons Defence Select Committee publishes a report condemning the Ministry of Defence’s (MoD) inability to manage its own finances. The report says that the MoD cannot locate Bowman radios worth £184 million ($296 million) or account for assets worth £6.3 billion ($9 billion). * Israel’s Foreign and Defense Ministers are at odds over plans to resume military sales to Turkey that may include the Spike anti-tank missile and Barak-8 naval air defense missile. * Research and Markets releases defense and security reports for Q3 2011 for Turkey and Saudi Arabia. * As EADS seeks to overhaul its corporate structure, creating separate companies […]

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