Carl Conetta. Project on Defense Briefing Memo #53, 05 January 2012.
http://www.comw.org/pda/fulltext/1201bm53.pdf

Excerpt:

The roll back in spending plans and the actual cuts to the budget are sufficient to engage every office and program in the Pentagon. That makes for a contentious debate as well as a load of fodder for partisan politics. It will help if we can keep things in perspective. The cuts we face today are far less dramatic than those following the Cold War. Aggregate budget authority during 1991-1996 was nearly 20% lower in real terms than during 1987-1990 – a decline five times greater than what the administration today proposes. Given our nation’s current economic straights, Pentagon advocates should actually breathe a sigh of relief.