SOURCE: The Bedford Report

The Bedford Report

October 20, 2010 08:46 ET

Defense Budget Under Pressure as Obama Looks to Reduce Deficit

The Bedford Report Provides Analyst Research on Boeing & Northrop Grumman

NEW YORK, NY--(Marketwire - October 20, 2010) -  It is expected that in future years that the US government will be looking for ways to cut budget costs in order to address the ballooning federal budget deficit. The Defense Budget will certainly come into question as a US withdrawal from Iraq and an eventual withdrawal from Afghanistan appear likely to reduce military spending. On the other side of the Atlantic, British Prime Minister David Cameron recently announced that the U.K.'s defense budget would be cut by 8% in inflation-adjusted terms over the next four years. The Bedford Report examines the outlook for companies in the Aerospace & Defense Industry and provides research reports on Boeing Co. (NYSE: BA) and Northrop Grumman (NYSE: NOC). Access to the full company reports can be found at:

The Pentagon expects that defense spending in the next year will increase by 1 percent after accounting for inflation, in spite of record deficits and calls from Congress to cut the budget. Defense Secretary Robert Gibbs has outlined a plan to increase spending directly on US forces by 2 to 3 percent by cutting $100 billion from the overhead accounts over the next four years. Companies in the Aerospace & Defense Industry stand to directly benefit from these plans.

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Northrop Grumman's CEO and president Wes Bush believes that the US government needs to maintain its defense capabilities as it looks for ways to reduce the budget deficit. "I think it is a better investment to maintain the capability than to let it atrophy and hope that in the future you can reconstitute it when you need it," claimed Bush.

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