After ten years of war and expanded spending, Secretary of Defense Leon Panetta outlined a series of military budget cuts for the next decade totaling $487 billion. Among these cost-saving measures are limiting pay raises for troops, increasing health insurance fees for military retirees, and closing bases in the U.S. These proposed cuts would be in addition to a previously established drawdown of troops and army personnel over the next five years. Elisabeth Bumiller is pentagon correspondent for our partner The New York Times.
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