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Pentagon Said to Seek $525 Billion Budget With Base Closings

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Jan. 26 (Bloomberg) -- The Pentagon will seek a $525 billion budget for fiscal 2013 and ask Congress for authority to close domestic military bases, according to a person familiar with plans to be announced today.

In addition to the base-closing authority, Defense Secretary Leon Panetta will propose reducing the Army from 562,000 personnel to 490,000 by fiscal 2017 and the Marines from 202,000 to 182,000 by that date, according to the person, who spoke on condition of anonymity before Panetta outlines his budget plans later today.

To contact the reporter on this story: Roxana Tiron in Washington at rtiron@bloomberg.net

To contact the editor responsible for this story: Larry Liebert at lliebert@bloomberg.net