Defense Secretary Leon Panetta warns against more cuts in Pentagon budget

Defense Secretary Leon Panetta warned Thursday of dire consequences if the Pentagon is forced to make cuts to its budget beyond the $400 billion in savings planned for the next decade.

"We're already taking our share of the discretionary cuts as part of this debt-ceiling agreement, and those are going to be tough enough," Panetta told reporters in his first news conference as defense secretary. "I think anything beyond that would damage our national defense."

The initial round of Pentagon cuts is part of a debt-reduction package that would slice about $1 trillion from agency budgets over 10 years. A second round of cuts, totaling as much as $1.5 trillion, will be prepared by a bipartisan congressional panel later this year.

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Neil Irwin 05 Aug, 2011

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