Wall Street Journal worries that debt limit fight could jeopardize military contractors’ profits

But, given the unlikelihood of outright default, the more concerning scenario for the Journal has to do with budget talks. The piece noted that, as the largest item on the discretionary side of the federal budget—which excludes social programs like Social Security and Medicare, which are funded on an ongoing basis—military spending could soon find itself on the chopping block. And who’s taking the pain? Your friendly old drone supplier:

Concerns that military spending could be cut—or, at best delayed—in a debt-ceiling fight have weighed heavily on investor sentiment toward the biggest military contractors. Shares in Lockheed Martin are down this year more than 7%, with General Dynamics and Northrop Grumman off 15% and 20%, respectively.

Dear God, no! We must take action to address the “‘wall of worry’ among investors”!

(Emphasis original.)