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Defense Secretary Robert Gates has advised President Obama to veto spending for projects the Pentagon doesn't want. But Gate's own proposals mean the Defense Budget might not decline after all. Are tough questions about the growing deficit going unanswered? Also, South Korea seeks UN Action against Pyongyang, and CEO Mark Zuckerman promises users of Facebook more control over how their information is shared.

Banner image: Secretary of Defense Robert Gates (L) and Chairman of the Joint Chiefs of Staff Mike Mullen (R) arrive for a briefing with reporters at the Pentagon May 20, 2010 in Arlington, Virginia. Gates outlined his plan to find billions of dollars in cuts to the Pentagon's annual overhead budget. Photo: Win McNamee/Getty Images

Making News South Korea Seeks UN Action against Pyongyang 7 MIN, 47 SEC

South Korea today severed trade with North Korea and asked the UN Security Council to punish the north for deliberately sinking a South Korean ship, killing 46 sailors. Secretary General Ban Ki-moon agreed that measures must be taken and Secretary of State Clinton said in Beijing that South Korea has the full support of the United States.  Mike Chinoy, senior fellow at USC's US-China Institute, is author of Meltdown: the Inside Story of the North Korean Nuclear Crisis.

Mike Chinoy, USC US-China Institute (@mikechinoy)


Mike Chinoy

Main Topic Defense Spending, Military Needs and the Federal Deficit 36 MIN, 42 SEC

Ever since Dwight Eisenhower warned about "the military-industrial complex," there have been complaints about bloated Pentagon spending. Defense Secretary Robert Gates complains that Congress is, once again, pushing job-creating projects the Pentagon doesn’t want, including a spending bill that includes the C-17 Cargo plane and an alternative engine for the F-35 Joint Strike Fighter.  But critics say Gates has his own recipe for new spending, a Quadrennial Defense Review that calls for ambitious new missions America can’t afford. If Iraq and Afghanistan wind down as expected, will defense spending increase anyway?  What about getting the deficit under control?

Robert Hale, Undersecretary for Defense and CFO, Defense Department
Gordon Adams, American University / Foreign Policy magazine (@Gadams1941)
Kori Schake, Hoover Institution (@KoriSchake)
Daniel Gross, Strategy + Business (@grossdm)

Buying National Security

Gordon Adams and Cindy Williams

Reporter's Notebook We Like Privacy, but We Love Facebook 6 MIN, 28 SEC

Facebook says the world wants to be "more open and connected," and 400 million people seem to agree. But complaints about privacy have led to promises about new controls, a pattern Facebook watchers have seen before. A week ago, Farhad Manjuoo of Slate.com predicted that CEO Mark Zuckerberg would respond to such concerns with a letter admitting that Facebook has "missed the right balance" between sharing information more freely and sharing too much. Today, Zuckerberg issued a letter saying, "We have heard the feedback…"

Farhad Manjoo, New York Times (@fmanjoo)

Dumb Money

Daniel Gross

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