The first round of cuts in projected defense spending is the result of a bipartisan deal in August 2011 between Congress and the White House to wrestle down the deficit. Unless a new budget deal is reached in time, additional spending cuts will begin in January across government, and the cost to the Pentagon would be $500 billion over a decade. Lawmakers are working to avoid that. Separately, Obama wants to slow the growth of military spending, now that the war in Iraq is ended and the war in Afghanistan is drawing to a close.
Associated Press writers Ricardo Alonso-Zaldivar and Stephen Ohlemacher contributed to this report.
Tax Policy Center research on candidate tax plans: http://www.taxpolicycenter.org/taxtopics/election_2012_tax_plans.cfm
Congressional Budget Office analysis of costs of Obama's health care law: http://www.cbo.gov/sites/default/files/cbofiles/attachments/43471-hr6079.pdf
EDITOR'S NOTE _ An occasional look at political claims that take shortcuts with the facts or don't tell the full story
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