Gates Live

Defense Secretary Robert Gates takes to the podium in just a few minutes. We'll be watching and updating the blog as he speaks.

You can also watch live here:

http://www.pentagonchannel.mil/

While you're waiting, check out this story, just filed:

McKeon Concerned About $78 Billion in DOD Budget Cuts

The Pentagon faces $78 billion in cuts to its topline over the next five years, Defense Secretary Robert Gates told lawmakers today, according to House Armed Services Committee Chairman Howard “Buck” McKeon (R-CA).

After the meeting with Gates, McKeon told reporters he has “big concerns” about the $78 billion in cuts, which would come on the heels of a $100 billion efficiencies initiative that Gates launched last year. While the efficiencies effort aims to shift funds within the Defense Department's topline, the $78 billion “goes back to the treasury,” McKeon said.

“We went in there worried about $100 billion and now I'm worried about $178 billion,” McKeon said. “We're fighting two wars, we have things going on in China, in Russia, in North Korea . . . is this the time to make these kinds of cuts?”

McKeon added that he had only “skimmed the surface” of Gates' fiscal year 2012 spending plan, but he cautioned against cutting DOD's budget to reduce the federal deficit.

“There's a whole lot we really need to look at and I'm really concerned about the depth of some of these cuts.”