The following video is part of our "Motley Fool Conversations" series, in which, consumer goods editor/analyst Austin Smith and industrials editor/analyst Brendan Byrnes discuss topics across the investing world.

In today's edition Brendan and Austin discuss President Obama's proposal for trimming $487 billion from the Department of Defense budget. Which defense contractors are best positioned to weather these cuts, and can these companies make a comeback in 2012?

Austin Smith and Brendan Byrnes have no positions in the stocks mentioned above. The Motley Fool owns shares of General Dynamics.  Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insightsmakes us better investors. The Motley Fool has a disclosure policy.