Report: Army in need of $40B bailout

The United States Armed Services has thrown its hat in the ring alongside Wall Street, AIG, Ford, Chrystler, GM, the state of California and your local dairy farm. They need money and they need it bad. According to a report obtained by Defense News, “The U.S. Army projects it will need $40 billion annually above current spending levels once a planned 74,200 troops are added, according to a draft service report for the Obama transition team.”

The Army currently runs on a budget of $140 billion per year and the Obama transition draft report reckons that number will have to be at least $170 to $180 billion in order to carry out “a broad range of service plans, strategic insights, future needs, goals and potential threats,” the report said.

Collect all your favorite government officials with GovTwit

GovTwit is the new social networking service provided for and by government employees. The tool is sponsored by government contractor BearingPoint who created a handy directory for “state and local, federal, contractors, reporters, academics and more.” It’s an official offshoot of Twitter, the well-known social networking platform, which can be found by clicking here.

Well-known Beltway publications that are listed in the directory include Government Executive, Roll Call and Federal News Radio. Industry and academic experts include representatives from Booz Allen Hamilton, the Heritage Foundation and, of course, a full listing of BearingPoint Tweeters. Agencies and executives from the White House, to New York Rep. Randy Kuhl (R-29), to the Murray County (Ky.) Public School District CIO also make the list.

See if your favorite government official or contractor has an account on GovTwit today!