Pentagon faces $78 billion spending cut

will have to cut spending by $78 billion over the next five years, Defense Secretary said Thursday, forcing the Army and the to shrink the number of troops on active duty and eventually imposing the first freeze on military spending since the Sept. 11, 2001, attacks. The surprise announcement from was a reminder for the military establishment, which has benefited from a gusher of new money over the past decade, that it will not remain exempt from painful austerity measures. In a news conference to announce what he described as efficiency measures, Gates said he hopes that “what had been a culture of endless money . . . will become a culture of savings and restraint” at the . At a time of…

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Pentagon faces $78 billion spending cut

Posted by on January 7, 2011. Filed under News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry