Panetta to Reveal Budget Details before End of Month
Defense Secretary Leon Panetta plans to release some specifics from the fiscal 2013 budget request on Jan. 26, according to a defense official cited Wednesday by Bloomberg.
The date is subject to change and no final decisions have yet been made as to how much detail will be released, the story added. The White House is scheduled to formally submit the entire federal budget to Congress on Feb. 6.
Bloomberg earlier reported that the topline figure for defense spending in FY 2013 would be 1 percent lower than the original request for 2012, or $524 billion. The figure would grow 1.8 percent in 2014, 2.3 percent in 2015, 1.9 percent in 2016 and 2.2 percent in 2017, according to an early OMB document.
Of the $487 billion in defense savings mandated under August’s debt reduction deal, $261 billion would be taken through 2017. The FY 2013 budget would endure a $47 billion reduction.