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A Bull or Bear Market? Army, Navy and Air Force CFOs Discuss Defense Spending

Recorded on September 26, 2007

Location: The Heritage Foundation's Lehrman Auditorium

Current defense spending forecasts are pointing in the wrong direction.  2008 figures show the defense budget declin¬ing to just 3.2 percent of Gross Domestic Product by 2012.  Operations in Iraq, Afghanistan, and elsewhere around the world have strained the U.S. military's ability to field trained and ready forces, to support ongoing operations, and to modernize simultaneously.  Even with robust levels of economic growth, this level of funding is too small to meet the nation's defense needs, including robust research and development, procurement of new weapon platforms, replacement of worn equipment, and affording exploding manpower costs.  Join us as the Chief Financial Officers of the United States Army, Navy and Air Force discuss the current and future budget outlooks of each service.