House Panel Authorizes Nearly $700 Billion in Defense Spending

The Hill - The House Armed Services Committee early Thursday approved a spending measure that clears the Pentagon and Energy Department to spend nearly $700 billion next fiscal year.

The panel approved a baseline Pentagon spending level of $553 billion, matching the Obama administration's request. It also authorized the Energy Department to spend $18 billion on nuclear weapons projects and cleared the military to spend $118 billion for the wars in Iraq and Afghanistan. Read more.