DOD report shows decline in the military’s spending portfolio
Scaled-back spending is being felt across the Defense Department’s major acquisition programs, which saw a collective reduction in spending of $9.1 million, or 0.6 percent, between December 2013 and December 2014, according to a just-released DOD report. But although many of the programs reviewed saw decreases, some others did increase, according to the Selected Acquisition Reports, which are prepared along with the president’s budget, and compared the December 2014 reports to those of a year earlier.
In a similar vein, a recent Government Accountability Office report found that in the past year, DOD’s major defense acquisition program portfolio decreased from 80 programs to 78, while the estimated cost has decreased by $7.6 billion. “The size and cost of the portfolio is currently the lowest in a decade”” the report said. “The decrease in current portfolio cost is due primarily to significant quantity decreases on two programs—most other programs actually experienced a cost increase over the past year.”