The economy shrunk in the fourth quarter — for the first time in three years — and one of the critical reasons was a drop in defense spending. Apparently, contractors took precautionary steps and held onto money in case the federal government failed to avert the fiscal and tax crisis known as the fiscal cliff.
But there’s now a new deadline — automatic budget cuts, known as sequestration, which may hit at the beginning of March.
The Effect On Contractors
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