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Obama's Pentagon budget hits divided Congress

from Reuters

The 2012 spending plan calls for $113 billion to buy weapons and services, down from $120 billion projected a year ago, but still at a record level. Weapons research would get nearly $77 billion, roughly on par with last year's projection. U.S. defense contractors including Lockheed Martin Corp, Boeing Co, Northrop Grumman Corp have been bracing for slower growth in defense spending after a decade of double-digit increases that have nearly doubled the Pentagon's core budget since Sept. 11, 2001. more


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