By Dave Montgomery -- McClatchy Newspapers
WASHINGTON -- After years of surging military spending by the Bush administration and a Republican-led Congress, the nation's defense industry is trying to gauge what life would be like if power on Capitol Hill shifts to the Democrats.
Wall Street analysts have been churning out reports, advising defense contractors about what to expect if Republicans lose control of one or both houses of Congress.
One consensus seems to be that, regardless of who winds up in control after next Tuesday's election, there'll be no draconian shifts that would roll back military budgets significantly.
At the same time, however, newly empowered Democrats could be inclined to take a harder look at defense contractors and major procurement projects while intensifying their opposition to administration policies in Iraq.
Rep. Neil Abercrombie, D-Hawaii, who's in line to take over the chairmanship of a key House Armed Services subcommittee, signaled a tough line during a telephone interview on Wednesday, denouncing the Iraq war as "Rumsfeld's folly."
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