The U.S. steel industry has faced increasing difficulties since the late 1990s. About 40 U.S. steel producers have gone into bankruptcy. While different companies and parts of the industry have been affected to different degrees, the two types of domestic producers of raw steel, integrated mills and minimills, have both supported restrictions on imports, which they say have undermined the ability of the U.S. industry to produce steel economically. This report reviews industry developments and the economic situation of the steel industry, including legacy cost aspects of its problems.

Memorandum from Gary W. Heckman to AF/XOR, AF/XPP, SAF/AQQ, SAF/AQP, and SAF/USA. Heckman calls for support from these in order to create groups of experts for the BRAC in order to assess military value of bases.

A letter report issued by the General Accounting Office with an abstract that begins "The Department of Defense's (DOD) investment in new weapon systems is expected to exceed $1 trillion from fiscal years 2003 to 2009. To reduce the risk of cost and schedule overruns, DOD revamped its acquisition policy in May 2003. The policy provides detailed guidance on how weapon systems acquisitions should be managed. The Senate report accompanying the National Defense Authorization Act for Fiscal Year 2004 required GAO to determine whether DOD's policy supports knowledge-based, evolutionary acquisitions and whether the policy provides the necessary controls for DOD to ensure successful outcomes, such as meeting cost and schedule goals. The report also required GAO to assess whether the policy is responsive to certain requirements in the Bob Stump National Defense Authorization Act for Fiscal Year 2003 concerning DOD's management of the acquisition process."

This report discusses the policy, economic, and technical factors that contributed to higher spending and lower receipts, raising the deficit substantially from what was originally proposed.