Pentagon No. 2 Hints U.S. Won't Be Able to Fight Wars if Cuts Hit

Deputy Secretary of Defense Ash Carter listens as President Barack Obama speaks at the Nunn-Lugar Cooperative Threat Reduction symposium Dec. 3 at Fort McNair in Washington.

The services, however, are already taking a more sober approach to the pending budget cuts, with the Navy and Air Force agreeing to ground their flight demonstration squadrons—the Blue Angels and Thunderbirds—to save upwards of $50 million this year.

But not everyone in defense spending is turning out their pockets. Lockheed Martin received an almost $7 billion defense contract on Wednesday to refurbish F-22 Raptor jets.

This release, reported by TIME, also includes hundreds of millions of dollars to Northrup Grumman and Lockheed for GPS space vehicles, infrared systems and other programs.

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