Sequestration eases, but the budgetary future stays uncertain

摘要

So it seems the political wrangling over the US budget - a process that is largely unfathomable to those outside the Beltway - may finally be subsiding, allowing some measure of longer-term planning to take place. The deal that was signed by President Obama on 26 December was unsurprisingly welcomed by aerospace and defence companies, given the uncertainty that has lingered over the industry in recent years due to the budgetary self-immolation that is sequestration. Automatic spending cuts will now be eased, allowing expenditure to rise by $63 billion over scheduled levels in FY2014 and 2015 -although defence spending, now set at $498 billion, is still $30 billion below the requested budget, with FY2015 not yet mapped out.