The aircraft carriers Dwight D. Eisenhower, George H.W. Bush, Enterprise, Harry S. Truman and Abraham Lincoln in Norfolk, Va., in December. Truman, along with the George Washington and John C. Stennis, are likely candidates for decommissioning if the most drastic of Pentagon cutting options is put into place. (US Navy)
WASHINGTON — At first, the statement is shocking. “Reduce the number of carrier strike groups from 11 to 8 or 9, draw down the Marine Corps from 182,000 to between 150,000 and 175,000.”
But those words July 31 from US Defense Secretary Chuck Hagel brought into the open some of the behind-the-scenes discussions that have been going on at the Pentagon for months. Senior Defense Department officials continue to stress no decisions have been made out of the Strategic Choices and Management Review (SCMR), but the everything-is-on-the-table nature of the discussions is becoming clearer.
Or is it? Beyond top-line statements, hardly any real details were released, leaving those outside the inner circles to speculate on the immediate and Read more…
China’s central bank has said it no longer sees any benefit in increasing its $3.66 trillion foreign currency reserves – already the world’s largest. China will cap its purchases of US dollars in an effort to limit the depreciation of the yuan.


By Aaron Dykes and Melissa Melton
As an aide holds up a poster, U.S. Sen. Dianne Feinstein (D-CA) speaks during a hearing before the Senate Judiciary Committee July 31, 2013 on Capitol Hill in Washington, DC (AFP Photo / Alex Wong)


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