Pentagon might have to cut $28 billion from 2012 budget

08/4/2011 | Bloomberg

The recently signed deficit-reducing measure requires $350 billion to be slashed from defense spending over the next decade. The majority of that comes from the Pentagon, which might have to slash up to $28 billion from the 2012 budget, insiders say. Defense Secretary Leon Panetta said the $350 billion is "in line" with the Pentagon's expectations for defense cuts.

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