AGU Academics |
AGU Recognizes 2013 Masters Degree Recipients in Its Second Annual Online Commencement
AGU congratulates all our recent graduates who completed their requirements and earned a Masters Degree In 2013. Take a moment to share in each 2013 graduate's achievement by
viewing the new online commencement with a video message from AGU's President, Paul McDonald.
Thanks to a compromise budget passed by Congress and signed by President Barack Obama in late December, the Pentagon has about $30 billion more spread across 2014 and 2015 than it would have had under sequestration. But those sequestration cuts re-emerge in 2016.
DoD spending is capped at about $498 billion in 2014, $29 billion less than DoD requested but $21 billion above the original sequester cap. In 2015, DoD spending is capped at $521 billion, more than $9 billion above the previous $512 billion cap.
The Pentagon plans to submit the 2015 budget plan that it prepared for the sequester budget, and buy back items with the restored funding.
Each service will still likely face a $7 billion to $8 billion cut in 2014, Jim McAleese, a defense contracting and budget expert who runs McAleese and Associates, said in a note to clients. McAleese notes that the 2015 spending cut is still $42 billion below planned levels, lowering DoD's purchasing power.
According to the New York Times, federal funding of government contracts has been on the decline, dropping by close to 11 percent from 2012 to 2013. In fiscal year 2013, which ended on Sept. 30, the government spent $460 billion on contracts with businesses. Federal contracting peaked in 2009 spending $550 billion.
The reason for the decrease? Partly sequestration, partly the government being a better buyer and mostly the wars winding down in Iraq and Afghanistan. Almost all of the decline in the last year was at the Department of Defense; the civilian agencies didn't have a decline that was significant. - From Defense News
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