Audio: Obama unveils strategy for austere military spending

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President Obama unveiled Jan. 5 a new strategy (.pdf) for defense spending in a Pentagon press conference where he was joined by Defense Secretary Leon Panetta and Chairman of the Joint Chiefs of Staff Gen. Martin Dempsey.

The strategy, meant to address how military spending will be ramped down following a decade-long peak during which the United States fought two wars, doesn't detail specific areas of cost cutting, but rather articulates general principles the administration says will guide cost cutting.

Click on the media player below to listen to the press conference.

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