THE PENTAGON — To meet sequestration-mandated cuts, the U.S. Navy will spend about $10.7 billion less in fiscal 2013 than it had intended to spend and the service is projecting about $59 billion less in spending across the fiscal 2014 to fiscal 2018 future years defense plan (FYDP), according to the Navy’s proposed fiscal 2014 budget released this morning. The proposed baseline funding for fiscal 2014 is $155.8 billion, compared with about $160 billion for fiscal 2013. The Navy ...
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