With Washington so far unable to avert the looming fiscal crisis, much of the attention has been on the more than $500 billion in tax hikes set to take effect Jan. 1.

But failure to strike a deal also means the first wave of roughly $1.2 trillion in spending cuts will hit starting next month.
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Retired Army Gen. Jack Keane said the implications for the military could be "very serious."

He said the Pentagon is "already in financial trouble because there's already been a $480 billion cut that's being applied right now as we speak.

"To take another cut on top of that ... is devastating," he said.

And it will make it more challenging for the military to maintain its troops, its equipment, and its preparedness, Keane said.
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Panetta also warns these cuts will "inflict lasting damage on our national defense."


http://www.foxnews.com/politics/2012/12/...-spending-cuts/

It's still hard to believe Obama has been given a second term when everything he does is against our country.

A lot of voters are functionally illiterate. They've been brainwashed and indoctrinated for several decades.