Panetta: Budget cuts could be "devastating"

Wednesday - 8/17/2011, 1:44pm EDT

The pentagon can handle big budget cuts, but only up to a point. Defense Secretary Leon Panetta said big cuts would "terribly weaken" U.S. national security. He said the Pentagon is prepared to make $350 billion in cuts over the next 10 years, but larger cuts, he said, would be "devastating." During an appearance at the National Defense University Panetta said progress by American-led forces against the Taliban in Afghanistan and by NATO forces in support of anti-government rebels in Libya might suffer from cuts.