POTUS Military Review

President Obama today announced plans for a sweeping assessment of the U.S. defense enterprise aimed at identifying where to cut hundreds of billions of dollars, part of a four-pronged effort to get the federal government's economic house in order.

In an address this afternoon, Obama quoted Chairman of the Joint Chiefs of Staff Adm. Michael Mullen's oft-repeated warning: “The greatest long-term threat to America's security is America's debt.”

Acknowledging Defense Secretary Robert Gates' efforts over the last year to wring $178 billion in savings for the Defense Department over the next five years, the president said: “I believe we can do that again.”

We need not only to eliminate waste and improve efficiency and effectiveness, but we're going to have to conduct a fundamental review of America's missions, capabilities, and our role in a changing world.

I intend to work with Secretary Gates and the Joint Chiefs on this review. And I will make specific decisions about spending after it is complete.