Early Budget Preview Expected this Week
Defense Secretary Leon Panetta will preview the Pentagon’s fiscal 2013 budget and long-term spending plan sometime this week, the Chicago Tribune reported.
The department’s formal budget request will not be unveiled until Feb. 6, but an early glance would echo the approach adopted last year by then-Secretary Robert Gates.
At a Friday meeting with industry executives, Panetta failed to reveal details about the upcoming budget submission. Rather, he stressed DOD’s commitment to preserving the nation’s industrial base as the department is about to absorb $487 billion in spending cuts over the coming decade.
“If we cut back on that industrial base, it will weaken us for the future,” he said.