In the two-year, $2 trillion budget deal that cleared the Senate last week, one item, worth just one-sixth of 1 percent of that total, was the reason many senators said they voted against it.
That item would produce some $6 billion in savings by shaving a percentage point off annual cost-of-living adjustments, and it would apply only to military pensions. Not all military pensions — just the retirement paid to veterans younger than 62.
We're going to hear now from the woman charged with streamlining the Pentagon's roughly $700 billion annual budget.
CHRISTINE FOX: We have to curb the growth of the compensation of our force. It's grown 40 percent above inflation over the last decade. And it's fully half of our budget. So, we have to slow the growth.