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Defense budget plan cracks down on pay hikes

Both military and civilian raises would be limited under strategy for cutting $487 billion over 10 years.

Defense chief Leon Panetta outlined the plan Thursday.

PABLO MARTINEZ MONSIVAIS/AP

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QUOTE | UNQUOTE

"Let's not overreact, because a lot of times if you overreact it can become a self-fulfilling prophesy."

Center for American Progress Senior Fellow Lawrence Korb, noting sequestration would not be the end of the world for Defense.

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