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September 25, Reuters " Bailout won't "gut" defense budget: Navy. A massive bailout for Wall Street will not lead to a "gutting" of the U.S. defense budget, but the U.S. military will come under increasing pressure to review big weapons programs and see if they are really needed, the Navy's top uniformed officer said on Thursday. The Chief of Naval Operations said there had not yet been much discussion within the Pentagon about the impact of the financial crisis, and it would fall to the new administration to make decisions about future defense budgets. The Government Accountability Office (GAO) this year reported cost overruns on the Pentagon's 95 largest weapons programs amounted to $295 billion over their original program estimates, raising their overall price tag to $1.6 trillion. Source: US NM - Yahoo