Budget Blues for Oshkosh
While bullishness is seemingly everywhere today, there are pockets of weakness -- and President Obama's fiscal 2013 budget, which would begin on Oct. 1, provides a few. Several items have been widely expected, including raising taxes on would-be millionaires and billionaires, cuts to military spending and investing in the nation's infrastructure. With the budget proposal now available, politicians and investors alike can drill down and decide which companies are vulnerable and which are positioned to benefit from shifts in spending.
Military and defense spending is in the cross-hairs; the 2013 budget proposal proposes cuts in Pentagon spending for the first time since 1998. The Pentagon's fiscal 2013 budget calls for a 7.5% drop to $179 billion for developing and buying new warships, fighter jets and other weapons. Slower procurement for several headline programs -- including the Joint Strike Fighter -- could slow the outlook for Lockheed Martin (LMT)....409 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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