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Pentagon's New Strategy Poised for Release: Defense Secretary Leon Panetta and Joint Chiefs Chairman Gen. Martin Dempsey are set to unveil the Pentagon's new defense strategy later this week. USA Today reports that the new strategy, driven by projected cuts of at least $450 billion to the defense budget through Fiscal 2021, would likely reflect significant reductions across areas like acquisition programs and manpower. Further, it will formally do away with the planning construct that calls for the United States to be able to fight two major theater wars simultaneously, according to the newspaper. In its place, the strategy will outline a military able to fight and win a major conflict while being able to "spoil" or deter another adversary's aims elsewhere. Panetta and Dempsey are slated to present the strategy on Thursday, reported Bloomberg. Pentagon spokesperson George Little told reporters Tuesday that the strategy—upon which the Defense Department is building its Fiscal 2013 budget proposal—would lay out "how we posture the US military to address current and future challenges."