Defense Cuts Threaten ‘Readiness Crisis,’ Panetta Says
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Automatic spending cuts due to take effect March 1 threaten “the most serious readiness crisis in over a decade,” U.S. Defense Secretary Leon Panetta said today.
Panetta urged Congress to embrace President Barack Obama’s call yesterday for a smaller package of cuts and tax-code changes to avert the across-the-board reductions known as sequestration that would reduce defense spending by $45 billion through September.