Defense Secretary Leon Panetta on Thursday announced cuts to military spending, saying he has grown pessimistic about the chances of the White House and Congress agreeing to avert $52 billion of reduced spending for the Pentagon this year. Defense agencies have been told to freeze civilian hiring and scale back spending on office expenses, training and travel. They've also been given authority to fire temporary workers. "We really have no choice but to prepare for the worst," Panetta said.
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