As the U.S. moves closer to the so-called "Fiscal Cliff",big ticket government spending areas like defense and entitlement programs are likely to be at the center of the debate. If the White House and Congress can't agree on a compromise, the Federal Government is threatened with automatic across-the-board cutsthat will come into effect in January 2013.
According to Department of Defense documents,since 2001 contracts for services have increased 137%, compared to a 1% increase for payrolls of active duty military personel over the same time period (in 2011 dollars), and is labeled as "increasingly unaffordable." However, among the largest government contractors are some of the largest companies in the country, some that employ more than 100,000 workers and draw a majority of their revenue from government sources.
To understand the spending involved, CNBC.com analyzed data from USASpending.gov,which was established in 2006 by the U.S. Office of Budget Management to make federal awards publicly available. According to the site, in FY2011 there were $536.8 billion in government contracts awarded to approximately 170,000 contractors. The data presented here are based solely on U.S. government contracts and do not include assistance, insurance, grants, loans or other forms of payment.
So, who are the biggest U.S. government contractors? Click ahead to find out.
By Paul Toscano& Jill Weinberger
Updated 13 June 2012
All contract values were drawn from USASpending.gov during the week of June 11, 2012 and are from this source unless otherwise noted. 2011 revenues are from the individual firms’ annual reports, unless otherwise noted.