Deficit Reduction: Are Higher Taxes and Reduced Military Spending Coming? Can the "Gang of Six" Accomplish Anything?

"Despite decades of acquisition reform from Congress, the Pentagon, and the think tanks, the Government Accountability Office (GAO) tells us that cost overruns in weapon systems are higher today, in inflation adjusted dollars, than any time since they have been measured. Last year, Congress passed the Weapon System Acquisition Reform Act of 2009. Almost every Member of Congress supported it, along with top Department of Defense managers. The early returns on the enactment of this legislation are not encouraging. ..."