President Barack Obama's re-election means a continuation of his first-term agenda to reduce military spending by $500 billion over the next decade -- a policy that was opposed by Mitt Romney. Obama has promised that sequestration "will not happen," but observers say it will be difficult for him to spur a compromise in Congress. Another issue to watch is the Department of Veterans Affairs' self-imposed deadline to eliminate the backlog of benefits claims. The deadline will occur in Obama's second term.
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