Pentagon Contracts Dropped 66 Percent In October Due To Shutdown

AP

Contracts awarded by the Defense Department fell by 66 percent in October, as the government shutdown exacerbated sequester budget constraints, according to Bloomberg.

The Pentagon spent $15.7 billion last month on contracts, the lowest level since March.

Acquisition employees were furloughed during the shutdown, holding up contract applications. The Pentagon may not catch up on awarding contracts until January, defense analyst Loren Thompson told Bloomberg. The prospect of another shutdown would be disastrous.

“If we get another shutdown, it’s Groundhog Day,” Thompson said. “It’s a mess.”

LIKE US ON FACEBOOK