Panetta Said to Seek $525 Billion Pentagon Budget

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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 military personnel and canceling the U.S. Army's C-27J transport plane. Hans Nichols reports on Bloomberg Television's "In the Loop." (Source: Bloomberg)


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