By DONNA CASSATA, Associated Press
WASHINGTON (AP) - A bipartisan group of former lawmakers and retired military officers say the automatic defense cuts looming in January would be more devastating than previously feared and make it impossible for President Barack Obama to refocus his national security strategy.
Members of the Bipartisan Policy Center on Thursday painted a dire picture for the nation's economy, the military and large and small defense contractors if the automatic reductions occur on Jan. 2, 2013. In its report, the group said the cuts would mean an indiscriminate, across-the-board 15 percent reduction in programs and activities within the military, not the 10 percent that had been estimated.
Former Republican Sen. Pete Domenici, who served as chairman of the Budget Committee during his nearly four decades in the Senate, called it an "absolute fiasco."
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Associated Press