WASHINGTON: US Defense Secretary Leon Panetta said Thursday he was 'particularly concerned' about the possibility of further cuts in military spending under a compromise deal to avert a US debt default.
The deal signed into law by President Barack Obama on Tuesday calls for at least $2.1 trillion in cuts in government spending over 10 years. In the first round, the government would slash $350 billion in military spending.
A special congressional committee has been created to then agree on the second round of $1.5 trillion in further cuts from all areas. But if the bipartisan committee fails, then cuts of $1.2 trillion would automatically come into force -- divided evenly between military and non-military spending, meaning the Pentagon could lose another $600 billion.
Panetta told a news conference that a "multitude of security challenges" had made him "particularly concerned about the sequester mechanism that was contained in the debt ceiling agreement."
Defense spending, which has doubled since the September 11 attacks, accounts for 20 percent of the overall federal budget.
The top US military officer, Admiral Mike Mullen, said earlier this week during a visit to Iraq that while cuts were inevitable, he did not know how the Pentagon would be affected.
Obama has requested $553 billion in defense spending for 2012, an increase of $5 billion. That does not take into account the $118 billion allocated for the wars in Afghanistan and Iraq.
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