DefenseSpending

How Uncle Sam Spends Your Taxes: The U.S. Budget in 8 Easy Bites

Almost everyone agrees the federal deficit is a ticking bomb, but when it comes to ideas for solving the problem, some are contradictory and all are controversial. No wonder: If you look at where the money actually goes, it's easy to see why it's so hard to balance the budget.

Will Budget Cuts Leave Our Nation Defenseless? Hardly

President Obama's proposed cuts to national defense spending have critics in a panicked tizzy. But while the document outlining his plan suggests that real change is afoot, it clearly contradicts the outlandish claims of its detractors.

Debt-Ceiling Law: States Brace for Another Hit

The debt-ceiling discussions may be over, but the fallout for states is just starting. Many states, still struggling to recover to pre-recession levels, have depended on federal money to make up their shortfalls. As the flow of money slows, which states will take the biggest hits?

Defense Cuts to Clip Lockheed's Wings?

Following Congress's debt deal, the Pentagon faces up to $600 billion in cuts, on top of $400 billion previously demanded by the president. What might this mean for Lockheed Martin, the contractor whose F35 Joint Strike Fighter -- intended to be a "cost effective" project -- has already become a fiscal and logistical disaster?