If you believe the hype, sequestration is going to deal a catastrophic blow to the politically powerful defense industry.It's a “doomsday mechanism,” former Secretary of Defense Leon Panetta declared. The Aerospace Industries Association (AIA) – the leading advocacy group for Pentagon contractors – has also warned of the allegedly dire consequences of sequestration for their industry (which receives nearly $1 billion a day from the Pentagon), expressing “extreme disappointment that sequestration was not averted.”Continue Reading...