Weapons Cuts Will Bear Half of DOD Budget Savings, Panetta Says
The Pentagon plans to take about half of the $450 billion in defense cuts called for under the debt ceiling agreement from weapons programs, House Armed Services Chairman Howard “Buck” McKeon (R-Calif.) said this week.
Following a classified briefing by Defense Secretary Leon Panetta, McKeon told reporters, “He wants to take 50 percent of the cuts out of modernization,” referring to weapons procurement, Reuters reported. The rest of the savings would come from overhead and other streamlining, trimming the number of military personnel, and reducing compensation and benefits.
The secretary did not provide any additional details as to where the 10-year spending reductions would come from, and said the department was still figuring out how to spread the cuts, according to McKeon.