Talking Points re Defense Budget

With all the recent hullabaloo about what sequestration will do to people's jobs, POGO has produced a briefing paper which counters the arguments McCain, Graham and company are making for the defense contractors.  Here are POGO's major points, details are available here.

• Pentagon contractors are making record earnings.
• Even under the deepest cuts—the unlikely budget sequestration—Pentagon contractors have huge revenue streams for years to come.
• If Pentagon contractors need to tighten their belts, they should start at the top. Contractor executive pay is out of sight, on par with Wall Street execs. 
• There is plenty of fat to cut in mismanagement and waste by big defense contractors.
• Defense contractors should cut their massive spending on lobbying and campaign contributions before layoffs.
• Even if the deepest proposed cuts to the Pentagon budget—under sequestration—were to happen, there would still be record Pentagon spending.
• Job loss threats are overblown political scare tactics.