U.S. President Barack Obama talks about U.S. military strategy in the 21st century and defense budget

President Barack Obama, backed by the Defense Secretary and other Pentagon officials, speaks to reporters at the Pentagon about U.S. military strategy in the 21st century. Obama says this strategy includes $487 billion in cuts over the next decade along with other spending changes which will still leave the U.S. with a defense budget that is roughly larger than the next 10 countries' military budgets combined.