Budget angst rises

If the so called “super committee” fails to find a way to reduce the deficit, what will the impact at Pentagon? Secretary of Defense Leon Panetta says he’s “terribly disappointed.” Whitehouse spokesman Jay Carney. He said the automatic cuts that would fall on the Pentagon are “deeper than we think is wise. Failure of a special U.S. congressional committee to strike a deficit-reduction deal is expected to unleash desperate lobbying by U.S. arms makers to get lawmakers to block $600 billion in automatic cuts.