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The strategy is intended to inform $487 billion in cuts to planned defense spending over the next decade, as mandated by the Budget Control Act, which went into effect last August.
Since the review began last year, military analysts have said it would only be a meaningful change if it recommended a disproportionate split of funding among the services.
Obama noted that although the budget will not grow at the pace is has for the past 10 years, it will still increase.
“It will still grow because we have global responsibilities that demand our leadership,” the president said.