The next defense secretary will inherit a vexing set of financial challenges that demand an "all-or-nothing" approach to cutting the defense budget, including weapon systems and even personnel accounts, according to a key Defense Department advisory panel. Such "bold action" would mark a departure from the less politically painful and more common practice of dealing with fiscal constraints by imposing small cuts across all accounts, the Defense Business Board says in a new report. The panel, which included Kenneth Krieg,...
