Defense Dept Declares it Will Only Fight One War at a Time! Whoohoo

January 03, 2012 BUDGETS 2. Panetta Set to Slash Pentagon Budget Defense Secretary Leon Panetta plans to unveil his shrunken budget for the Pentagon this week, part of a deal this summer to cut about $450 billion from military spending. One effect of the cuts: the U.S. will no longer fight two ground wars simultaneously. Instead, Panetta says, the military will be able to fight one major war and “spoil” a second opponent's ambitions in another part of the world. Every aspect of the military is potentially on the chopping block, including salaries, retirement, and health benefits. There’s a chance that Panetta will have to make $500 billion in additional cuts down the road if Congress pushes for steeper reductions, something he says would be disastrous.