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And must not occur. >> i don't think that's the best way to cut the defense budget but it could be useful. we need bigger cuts in the defense budget because we do too much. this will force us, i think, to make choices. > >> john: what do you mean we do too much. >> we try to be everything in the world. we try to deliver peace and prosperity to every corner in the world pretending every unstable country is a threat to us. if we cut a bit, we might have to reconsider some of that and prioritize more. >> when president obama in the debate talked about being able to save on things because the mili...

>> 20% of the budget and half the fiscal cliff spending cuts would come from the military budget. russ, you're not a defense specialist, so let's bring in ben friedman of the cato institute. it's almost a 10% cut, i'm told. it's terrible. the republicans are hysterical about this. >> the pentagon is hysterical about it. both parties are hysterical, but it's about 10% which would bring us roughly back to where we were on defense spending in 2006. >> which adjusted for inflation. >> it was not exactly a crisis year in the pentagon. it's really a minor cut. they've gotten very spoiled at thale pe...