The Defense Department is bracing for potential budget cuts of about $90 billion to fiscal year 2024 and 2025 plans -- painful reductions likely to squeeze weapons system modernization accounts -- in the event congressional dysfunction extends into January triggering a statutory sequester provision of the June law enacted to raise the debt ceiling. The 2023 Fiscal Responsibility Act set FY-24 and FY-25 defense spending levels at $886.3 billion and $895 billion respectively and includes a provision that would slash...
