After bulling through March with strong spending despite the sequester, Pentagon contract awards fell off a cliff in early April. And what little money there was to spread around was often showered upon non-traditional recipients such as Madison Avenue advertising firm Interpublic Group (NYSE: IPG ) .
So what's really going on over there in Washington today? Is defense spending stalled, or will it rise again? And what does this mean for ultra-low-P/E-bearing stocks like Boeing (NYSE: BA ) , Lockheed Martin (NYSE: LMT ) , Northrop Grumman (NYSE: NOC ) , and General Dynamics (NYSE: GD ) .
Motley Fool contributor Rich Smith let's you know the score...
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