Politics Breaking News: Hagel Sees 2 Paths for Cuts: Paring Military's Size or Capability

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Politics Breaking News: Hagel Sees 2 Paths for Cuts: Paring Military's Size or Capability

Politics Breaking News: Hagel Sees 2 Paths for Cuts: Paring Military's Size or Capability
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Politics Breaking News: Hagel Sees 2 Paths for Cuts: Paring Military's Size or Capability

by Wochit 1:02 mins

Defense Secretary Chuck Hagel offered his most thorough assessment of financial challenges facing the military, warning that if punitive, across-the-board budget cuts are not lifted, the nation must reduce its global security objectives by trading away either the size of its force or its technological edge as the Pentagon seeks to remain solvent. Defense Secretary Chuck Hagel pledged to cut the Pentagon's overhead by almost $40 billion over the next decade and chart out ways to cut compensation by $50 billion, regardless of the depth of further cuts in military spending. Meeting being closed doors with House Democrats Wednesday, President Barack Obama faced questions from his own party about his reported consideration of Larry Summers as the next chairman of the Federal Reserve.

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