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Obama Announces Pentagon Budget Cuts

President Obama announced a new military strategy on Thursday that will cut the Pentagon budget by hundreds of billions of dollars over the next decade /.../

That new strategy turns away from labor intensive wars, such as Iraq and Afghanistan, analysts say.

"The attitude is no more Iraqs," said Andrew Krepinevich, president of the Center for Strategic and Budgetary Assessments.

Iraq and Afghanistan were large nation-building efforts requiring thousands of troops. The emphasis on the future will be to partner or advise foreign militaries in order to counter threats, Krepinevich said.

"The Army and Marine Corps are going to take the biggest hits," Krepinevich said. Both services grew in size to fight wars in Afghanistan and Iraq.