president obama meantime will announce billions of dollars in cuts to defense spending today. he'll make the announcement at the pentagon, the first time any president has addressed reporters in the pentagon briefing room. administration says it's creating a more realistic military by eliminating tens of thousands of ground troops and investing more in air and sea power. officials familiar with the plan say the pentagon's budget is way too bloated and the u.s. can still be strong with fewer forces. the strategy amounts to $489 billion in cuts that will take place over the next 10 years. sorry, ladies. it appears he has declared his love. >> justin timberlake now off the market. reports say he has proposed to long time girlfriend actress jessica biel while vacationing in jackson, wyomingment over the holidays. the two have been dating on and off for the past four years. and those are your headlines.