Federal government cancels defense contracts worth $2.15 billion

This action may foreshadow federal spending cuts scheduled for year's end if Congress takes no action on the federal budget.

August 30, 2012

The federal government canceled 13,579 military contracts worth $2.15 billion in the fiscal year that ended Sept. 30. This action may foreshadow federal spending cuts scheduled for year's end if Congress takes no action on the federal budget.

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