Wall Streeters high for years on a bullish defense outlook got two reality checks recently with lawmakers' moves to cut F-22 fighter funding and to find federal money to fund a Republican-sponsored tax cut. Now, contends investment house Merrill Lynch, a third issue is set to emerge that should temper expectations further - revised inflation estimates that could trim outyear spending plans. "Of the $112 billion increase in the Future Year Defense Plan that was submitted earlier ...
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