Glenn at Instapundit indicates, with a link to an ammo magazine, that this may be the case and that it is because the Army anticipates military action within the next 24 months.
Pretty disturbing, especially where there next four months are a run-up to a Presidential election.
The linked-to article states that "the military gets a significant majority of their ammunition from the Lake City Army Ammunition Plant in Independence, Missouri." Wouldn't you think that the Army would diversify its procurement to several different places in the country, so that no single plant produces "a significant majority"?
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