Defense Secretary Proposes Big Cuts to U.S. Military Spending

United States Secretary of Defense Chuck Hagel proposed a new Pentagon budget on Monday that would shrink the U.S. military's size down to pre-World War II levels, becoming the Defense Department's first non-war budget since 2001.

Speaking from the Pentagon at a press conference, Hagel said the military can reduce spending and get smaller without losing its worldwide presence. He added that there is no need for a force that can fight two wars when the Iraq war ended over two years ago, and the war in Afghanistan has been drawing down for some time. Hagel's cuts will likely prompt sharp criticism from some veterans' groups and members of Congress, who have to approve the budget for it to move forward. Read more...