Military budget cuts

From: larry.r.trout

'The debt ceiling deal struck by the nation's top lawmakers includes $350 billion in cuts to the defense budget over the next decade, according to the White House.

And the deal's second round trigger -- a penalty if lawmakers are unable to get their act together -- would slash another $500 billion over 10 years.

Of course, it might not come to that. What is guaranteed is the initial $350 billion in cuts, which experts say the Defense Department can weather.'

http://money.cnn.com/2011/08/01/news/economy/debt_ceiling_defense_cuts/index.htm?iid=Lead