U.S. Defense Secretary Chuck Hagel is outlining his vision of a smaller, better-equipped military while anticipating tough choices about some multibillion-dollar weapons systems that declining Pentagon budgets may force President Barack Obama’s administration to make.
A shake-up is under way on the congressional committees that oversee national security and defense just days after elections that did little to change the balance of power in the U.S. Senate and House.
Boeing Co., whose aircraft have ferried U.S. presidents for more than half a century, is poised to be the only contender for a Pentagon contract to provide the next Air Force One jetliner early next decade.
Canceling the $391.2 billion program to build Lockheed Martin Corp.’s F-35 fighter jet is among options the Pentagon listed in its “strategic review” of choices if forced to live with automatic budget cuts, according to people familiar with Defense Department briefings.
The Republican victories in Congress mean U.S. companies from Goldman Sachs Group Inc . to WellPoint Inc . may be able to weaken or block what they consider President Barack Obama ’s anti-business policies on health care, the environment, taxes and financial reform.
The U.S. Navy has two years to convince critics, from lawmakers to some in its own ranks, that its troubled $37 billion Littoral Combat Ship program is worth continuing beyond the 24 vessels already under contract.