WASHINGTON Breaking News: Pentagon Seeks Cuts in Overhead, Army, Air Force to Trim Budgets

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WASHINGTON Breaking News: Pentagon Seeks Cuts in Overhead, Army, Air Force to Trim Budgets

WASHINGTON Breaking News: Pentagon Seeks Cuts in Overhead, Army, Air Force to Trim Budgets
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WASHINGTON Breaking News: Pentagon Seeks Cuts in Overhead, Army, Air Force to Trim Budgets

Wochit 0:59 mins

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. The Federal Reserve stopped short of signaling any timetable Wednesday for slowing its bond buying. Instead, it dropped hints that it might need to maintain its $85 billion a month in bond purchases, which have helped keep long-term borrowing rates ultra-low U.S. intelligence analysts can use a secret National Security Agency program to scour wide-spanning databases tracking online traffic, the Guardian newspaper reported, citing documents from former NSA contractor Edward Snowden.

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