The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles.
Rep. Randy Forbes, who chairs the readiness panel of the House Armed Services Committee, has a fairly blunt view on the near future of the fiscal cliff talks: "I am fully expecting to see sequestration in some form beginning in January," he told AOL Defense in an exclusive interview. Here's what he thinks that will mean for the U.S. military.
Let's not sugarcoat it, President Obama won Monday's debate decisively -- at least on the topic of the evening, foreign policy. That's good news for Obama and bad news for Romney. But there's good news for Romney too.
As Barack Obama and Mitt Romney await tonight's debate, we examine one more key topic they'll go toe-to-toe over: budget cuts. Will they cut Medicare, defense, or the many smaller programs that effect us every day? And how will they spin those budgetary choices? Here's what we may hear.