Speaking at the Morgan Stanley Industrials CEO conference a few minutes ago, Lockheed Martin chief Bob Stevens predicted the US Department of Defense's Fiscal 2009 budget request -- not scheduled to be unveiled for five months -- should be about 5% higher than the $482 billion request in FY 08.
The good news: that means the DOD budget will grow to $503 billion, not including the supplementals.
The bad news: that means DOD's core budget growth is decelerating from 10% in FY 08 to 5% in FY09.
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