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Pentagon Agrees Deep Cuts To Stem Spending

Defense Secretary Robert Gates has unveiled cuts of $78 billion in U.S. military programs.

Gates said the cuts and other measures would result in a slower pace of growth in defense budgets over the next five years, despite earlier plans to keep spending at a higher rate.

He said that the proposed defense budget for fiscal year 2012 will reach $553 billion, growing at a modest rate of 3 percent, but future budgets will gradually be scaled back to zero real growth in 2015 and 2016.

The cuts will require reducing the size of the Army and the Marine Corps in 2015-16, with the Army reducing its force by 27,000 troops and the Marines by 15-20,000.

compiled from agency reports