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 (IPG -1.00%).
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 (BA 0.24%), Lockheed Martin (LMT 0.69%), Northrop Grumman (NOC 0.15%), and General Dynamics (GD -0.39%).
Motley Fool contributor Rich Smith let's you know the score...
