Detailed text transcripts for TV channel - CNN - 20120105:04

Detailed text transcripts for TV channel - CNN - 20120105:04:17:00

panetta will be addressing the pentagon's budget. it's going to be cut by half a billion dollars in cuts, at least 47,000 fewer marines and troops are expected in the next year. now while america is downsizing, and of course as you all know, the super commity automatic cuts, half them, $600 billion come from defense, china is doing the opposite, massive buildup. the "wall street journal" today doing a story we found fascinating about china's naval strength. dozens of submarines and arsenal ballistic missiles that can reach u.s. warships thousands of miles away. the "wall street journal" says these missiles are going to be delivered by 2015. one of them hits one of our carriers you could take out 5,000 troops with one missile. now we are slashing and china's growing. a frightening scenario we've been talking a lot about here on this program. peter brooks is a military expert with the heritage foundation, a conservative think tank, and i appreciate you joining us. >> thanks for having me. >> let me ask you this question. it seems that part of problem is when you have conversations with former defense secretaries, for

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