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Thursday, November 19, 2009

Pentagon budget drop anticipated

The PentagonCongressional budget experts predict defense spending will decline steadily as a share of the U.S. gross domestic product, dipping below 3 percent by 2028.

The projection comes as senior defense authorizers from both parties raise concerns about budget constraints shaping Pentagon spending in fiscal 2011 and several years beyond.

“The picture is not a pretty one,” Rep. Ike Skelton (D-Mo.), the chairman of the House Armed Services Committee, said in his opening statement Wednesday at a hearing on future defense budgets.

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