Pentagon seeks $526 bn for 2014

US President Barack Obama has proposed a $526.6 billion base budget for the country’s defense department in fiscal year 2014, as the Pentagon struggles to provide funds for its strategic rebalance to the Asia Pacific amid mandatory budget cuts. The request keeps defense spending at about the same level as in 2013, which would pay for personnel, weapons research and development, procurement and operation and maintenance of the military. It doesn't include war cost in Afghanistan and mandatory budget cuts known as sequestration, which could be over $100 billion combined.‘This budget looks into the president's new strategic guidance,’ says Chuck Hagel, defence secretary.