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CNNW CNN Newsroom August 4, 2011



talking about cuts and specifically what s handed to em because of the debt ceiling deal reached earlier this week. initially they know they have to cut 350 million which more or less they are okay with and won t necessarily sacrifice our national security, but where the big question mark comes is if that committee can not decide on how they will make those additional cuts to equal around or about $1.2 trillion, they will have to cut hundreds of billions, 500 billion, 600 billion, 700 billion just to defense, and to quote, i want to get this precise for you, the defense secretary said those cuts will be completely unacceptable. we re all over this story with our pentagon correspondent barbara starr and let s begin this hour staying with the money theme, i suppose. we re watching this very closely. has not been a day for investors with weak stomachs. stock markets all over the world have been racking up some huge, huge losses, and u.s. markets have lost their gains for t ....

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