ABOARD A US MILITARY AIRCRAFT: US Defence Secretary Leon Panetta is warning members of Congress that threatened defense cuts in the order of dollar 1 trillion over the next decade would add 1 percentage point to the US unemployment rate, a senior defense official said on Thursday.Congress reached an agreement in August that calls for at least dollar 350 billion in cuts to national security spending over 10 years, and Pentagon officials are looking at ways to do that without harming US security interests.
Washington is wrestling with record budget deficits and a stubbornly high 9.1 per cent unemployment rate.The Senate Defence Appropriations subcommittee proposes to cut it by dollar 695 million for the fiscal year beginning Oct, 1.
It has also recommended termination of the Joint Light Tactical Vehicle Program, a possible replacement for Army and Marine Humvee vehicles.
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