Pentagon funds running dry

The Defense Budget is about to go down for the first time in a decade. The administration has proposed 2012 spending of $671 billion. That includes $118 billion in war spending. It is nearly $20 billion below actual expenditures in 2010, and it is nearly $40 billion less than what Secretary Robert M. Gates requested for 2012. Meanwhile, for 2011, Gates is warning the continuing resolution means the Pentagon could run out of money before September 30.

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