June 11 (Bloomberg) -- Huntington Ingalls Industries Inc. says the USS Gerald Ford aircraft carrier it is building is 75 percent complete. The project's 2015 delivery date could be in jeopardy, however, if automatic defense-spending cuts set to take effect in January are implemented.
The defense industry has launched a lobbying campaign to stave off the cuts, which would reduce the U.S. defense budget by $55 billion a year through 2021 unless lawmakers agree on a way to cut debt by $1.2 trillion over a decade. Bloomberg's Britton Staniar reports. (Source: Bloomberg)