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After the korean war, the military budget fell by 43%, by 43%. after the vietnam war it fell by 33%, by a solid third. after the soviet union fell and the cold war ended the military budget fell by 36%. this is a pattern of military spending in america. it goes way up in times of war, but then, and this is important, it falls right back down after. in times of peace. now, over the past ten years, we have been at war and our spending has subsequently gone way up. i want to tell you these numbers because i think they're absolutely astonishing. in 2001 under president bush, the military was $287 ...

Spend this year for defense. that dropped down if ssequestration goes in. that is a cut and we are down to seven months left of the year but this is a major cut. the chiefs that have made the plans that work for a year to absorb the $487 billion in cuts, another $500 billion. they changed the strategy we have had since world war ii. the chief said we will not absorb another dollar without changing the strategy. we won't be able to do what they are asking to us do. >> bret: mr. chairman we are up against a hard break. i appreciate your time tonight. thank you, sir. we'll have you back again. se...

Versus those that would be ridiculous at this time. so what are some of these ideas? >> that's a very good question. we should be asked all the time, how much defense does the country need? how much money does it really need? and we're embarked on a huge transition now from the era of iraq and afghanistan and our necessarily total preoccupation on them to the threats that are going to determine this country's future. we also understand that a strong defense rests on a strong economy. so secretary panetta and all the rest of us have embarked, you'll remember last year on $487 billion worth of c...

The eventuality looks like now it will happen. >> the words that the leaders of the defense department are using and others, devastation are unprecedented. we have to listen to them and take them serious. what the viewers should understand is that the defense department leaders are not insensitive to the economic crisis this country is facing with the debt and deficit and recognize that the defense department has to be reduced to some degree. what many of the viewers don't know is that there has been a cut that has already been taken agreed to last year of a $487 billion. the sequestration cut...

Immune or insensitive to the fiscal and economic crisis we have. they understand that. they know defense is part of that solution but they're only 19% of federal outlays. the sequester is the 50% cut. that's what theyhw resent, disproportionate cut the defense has to take. it added to the $487 billion cut they already agreed to last year. that is hugely forgotten by many people. jenna: just in your experience you're seeing this story happen again. we've sieve this happen as you mentioned repeatedly in and out of different conflicts. how does that make you feel, someone that served the country...