Pentagon Budget Eyes $178.8 Bln For R&D, Procurement -- Reuters(Reuters) - The Pentagon's fiscal 2013 budget plan calls for spending of $178.8 billion to develop and buy new warships, fighter jets and other major weapons, a 7.5 percent drop from the level initially projected for the coming year, according to a detailed budget document obtained by Reuters.
The total acquisition amount, which includes $9.1 billion in war-related funding, is down about 12.2 percent from the level requested in last year's budget, the document shows. The fiscal 2012 acquisition request included $15.4 billion in war funding.
The fiscal 2013 plan foresees spending of $109.1 billion for procurement and $69.7 billion for research and development, compared with earlier projections of $117.6 billion for procurement and $75.7 billion for R&D.
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Update: Pentagon’s Budget Plan Is Said to Get 40% of Cuts From Weapons Procurement -- Bloomberg
My Comment: And the cutting is just starting.