Defense cuts must be monitored closely, lawmakers warn

The national and local defense industry will be able to withstand or avoid cuts expected to accompany the debt limit deal that passed the U.S. House of Representatives, analysts and lawmakers said late Monday.

But that resilience will depend, in part, on the work of a 12-member, bipartisan special joint committee, which will be empowered to make additional measured cuts late next year.

Under the compromise struck by President Barack Obama and congressional leaders to avert the nation's first-ever financial default, the near-term impact on the troops, aircraft, ships and weapons could be a cut of $350 billion from projected increases over 10 years. That's in line with the Department of Defense's comprehensive strategic review, analysts said.

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