Defense Secretary Leon Panetta told lawmakers yesterday that though the Pentagon hasn’t planned for potential “sequestration” budget cuts, it may start preparations for them this summer. The Pentagon says its 10-year spending plans will be cut by at least $487 billion because of the Budget Control Act of 2011. Yet the military faces additional longterm spending reductions of roughly $500 billion, because Congress could not agree on a $1.2 trillion deficit-cutting plan last year and the law says such inaction…
Pentagon May Be Forced To Plan For Sequestration Cuts
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