Defense News quotes M.A. and George Lund Fellow for Emerging Defense Challenges Steven Grundman on the stabilization of the defense budget:

Analysts suggested that while 2014 is close to the bottom of the defense market, defense spending may continue to go down for another year or two. And when it stops declining, it may not recover as quickly as it did following the large downturn in the 1990s.

“On an outlay basis, I think we have one more year to go,” said Steve Grundman, a former Pentagon industrial policy chief who is now a consultant and a member of the Atlantic Council. “I think 2015 will be the bottom for budget authority — I don’t think we’ll go lower than the 2015 budget authority — but the outlay dip will lag a year, so 2016 is probably the bottom of the outlay cycle.”

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