DOD Defends Military Budget Cuts At Senate Hearing

Law360, New York (February 14, 2012, 3:36 PM EST) -- Secretary of Defense Leon Panetta weathered criticism from lawmakers during a Senate hearing Tuesday, defending President Barack Obama’s military budget as a balanced package that makes difficult, cost-saving choices while preserving the military’s future capability.

The agency's $525 billion budget request, a slight reduction from $531 billion in fiscal year 2012, is the first step in a five-year plan to shave $287 billion from projected defense spending by 2017. The proposal included many elements that were unpopular on Capitol Hill, including reducing the active-duty Army and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.