A $1 trillion reduction to defense spending over 10 years would put the Pentagon’s budget back in line with where it was relative to other government spending in 2001, says a top-ranking Democrat. The military is headed for an across-the-board budget cut that large if Congress fails to agree to $1.2 trillion in deficit reduction by the end of the year. The penalty known as sequestration was designed to be so harsh it would bring lawmakers to the table for an agreement. “I think ...
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