President Barack Obama’s White House has told at least one defense
contractor not to worry — sequestration isn’t really going to happen.
According to House Armed Services Committee Chairman Buck McKeon, Office of Management and Budget (OMB) Acting Director Jeffrey Zients told Lockheed Martin CEO Bob Stevens not to worry about the potential sequester.
Sequestration cuts are set to automatically take place following the failure of the deficit-reduction super committee.
In an e-mail to The Daily Caller, a spokesman for Rep. McKeon confirmed that Zients had told Stevens that the sequestration will not take place.
The congressman paraphrased Zients’ comment: “Why would I spend time planning for it when it’s not going to happen? It’s just wasted time.”
As the Department of Defense and House Armed Services Committee prepare for the worst with the potential sequestration, the White House has yet to even acknowledge the $500 billion sequester that has defense companies doling out pink slips.
Companies like Lockheed Martin and Northrup Grumman are bracing themselves for mass layoffs in January, yet the White House’s OMB isn’t even factoring sequestration into its budget projections — a move that is leaving contractors puzzled as to their next steps.
Read more: http://dailycaller.com/2012/06/27/white-house-denies-sequestrations-ever-going-to-happen/#ixzz1z52dIBTm
According to House Armed Services Committee Chairman Buck McKeon, Office of Management and Budget (OMB) Acting Director Jeffrey Zients told Lockheed Martin CEO Bob Stevens not to worry about the potential sequester.
Sequestration cuts are set to automatically take place following the failure of the deficit-reduction super committee.
In an e-mail to The Daily Caller, a spokesman for Rep. McKeon confirmed that Zients had told Stevens that the sequestration will not take place.
The congressman paraphrased Zients’ comment: “Why would I spend time planning for it when it’s not going to happen? It’s just wasted time.”
As the Department of Defense and House Armed Services Committee prepare for the worst with the potential sequestration, the White House has yet to even acknowledge the $500 billion sequester that has defense companies doling out pink slips.
Companies like Lockheed Martin and Northrup Grumman are bracing themselves for mass layoffs in January, yet the White House’s OMB isn’t even factoring sequestration into its budget projections — a move that is leaving contractors puzzled as to their next steps.
Read more: http://dailycaller.com/2012/06/27/white-house-denies-sequestrations-ever-going-to-happen/#ixzz1z52dIBTm
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