days. they could face a 20% cut in their salary. you don t think that will impact on our economy? you don t think that s going to impact on jobs? you don t think that s going to impact on our ability to recover from the recession? jon: mr. panetta also deliver ad stark warning about the scale and scope of cyber attacks on this country saying they could cripple the united states. we are literally the target of thousands of cyber attacks every day. every day. thousands of sigher about attacks that are striking at the private sector, strike at silicon valley, strike at other institutions within our society. strike at government. strike at the defense department and our intelligence agencies and cyber is now at a point where the technology is there to cripple a country.
if he comes out critical of the cia s actions during the bush years, he risks alienating those who worked so hard fighting terror all these years, the very people that he wishes to lead, jenna. jenna: big hearing today, mike. thank you very much, mike emanuel down on capitol hill today. jon: meantime outgoing defense secretary lee on panetta on capitol hill right now on the a hearing for the benghazi terror attack where he addressed the pentagon s response to the assault on our consulate on september 11th. four americans, including our ambassador to libya, died in that attack. this comes just a day after mr. panetta emotionally charged parting speech to students at georgetown university where he blasted the massive defense cuts known as the sequester, set to go into effect just weeks from now. if sequester happens, let me tell you some of the results. we will furlough as many as 800,000 dod civilians around the country for up to 22
devastating impact on things like flight hours, am niths, training, all the things that we need to keep the army, air force, navy, and marine corps prepared and operating. that sufficient is going to get slush eed arbitrarily. that s what panetta is worried about, what i m worried about, and that s why there s got to be some agreement before all that stuff gets cut just arbitrarily. colonel, we ll leave it there. colonel jack jacobs, hthank you so much for your service and your time. thanks for having me on the program. coming up next, we ll head to the white house where there is no shortage of work to do as the president heads toward a second term. first jon fortt has the cnbc market wrap-up. michael, you know, lots of people seem to have taken the day off when it comes to trading, too, as well they should to honor our veterans. take a look at the boards. the dow and nasdaq barely budged at all. the s&p up only fractionally. microsoft was down about 2% on their acknowledgment
cia comes at a time when the president was already having to deal with coming up with a successor to secretary of state hillary clinton, possibly finding a replacement for defense secretary leon panetta, finding a replacement for secretary of the treasury tim geithner, all of whom, geithner and clinton, have already said they want to leave. it was reported on friday i believe on andrea s show that lee on panetta might want to go. when you have all of those people who are in senior positions within the administration all needing or wanting to go at the same time, having the cia director resign is not the optimal thing to have happen. as the late robin harris said, if you have to go, you got to go but going at this time simultaneously is problematic. in light of the fact that panetta and petraeus were seen as outsiders, they weren t organically grown from within, they didn t involve themselves over the years in the
serve. to give something pack to this country. and now it is my privilege to introduce to you the man who spoke those words and who lives them every day, our secretary of defense, lee on panetta. [applause] mr. president, mrs. obama, general dempsey, distinguished guests, ladies and gentlemen, and in particular the family members who lost a loved one here on 9/11. 11 years ago on a morning, very much like this, terrorists attacked the symbols of american strength, our economy, and our commerce, our military might,