Today, President Barack Obama asked Congress for $3.73 trillion budget in fiscal 2012, which will cut the national deficit by $1 trillion dollars in the next 10 years.
In addition, the President’s budget will also save the Defense Department $78 billion over the next five years. The money will come from several areas including the restructuring of the F-35 Joint Strike Fighter Program, and ending the Marine Expeditionary Vehicle Program.
Throughout today, several officials in Washington will be speaking about the new budget including Secretary of Defense, Robert Gates, who is requesting $671 billion for the Defense Department.
Read the Defense.gov story, “Obama Asks for $671 Billion Defense Budget in Fiscal 2012“