On this episode of Fed Gov Today with Francis Rose, retired Major General Arnold Punaro joins Francis to unpack what could be the most sweeping overhaul of the defense acquisition system in decades. Following Secretary Pete Hegseth’s newly announced Acquisition Transformation Strategy, Punaro argues that achieving real results will require nothing short of retraining the entire acquisition workforce—military and civilian alike. He breaks down how the Department of Defense, Congress, and industry—the three sides of the “iron triangle”—are finally aligning to reform a system that has resisted change for years.

You’ll learn why Punaro is more optimistic than ever, emphasizing leadership from all three fronts: the Pentagon’s push for speed and risk-taking, industry’s willingness to innovate, and Congress’s readiness to support multi-year funding and streamlined contracting. But he’s also candid about the challenges ahead—from taming a massive bureaucracy to overcoming a risk-averse culture that punishes innovation.

In a moving close, Punaro reflects on the meaning of Veterans Day and honors the heroism of Corporal Roy Hammonds, who gave his life saving Punaro’s during the Vietnam War.

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