A F35-B under a assembly.

Base closures, other deep and targeted military cuts could come from sequestration

So far the sequestration's impact has been targeted at general across-the-board cuts, but The New York Times is reporting that President Obama's administration and the Pentagon are looking to transform the general cuts into targeted and deep reductions.

In all, Charleston military activity is thought to account for an annual $7.76 billion, with Joint Base Charleston accounting for $4.38 billion and 38,527 jobs and SPAWAR for $3.38 billion and 27,492 jobs. So it's with understandable concern that the sequestration's $46 billion worth of cuts in 2013 are being watched.

The paper writes, in part:

On the list are not only base closings but also an additional reduction in deployed nuclear weapons and stockpiles and a restructuring of the military medical insurance program that costs more than America spends on all of its diplomacy and foreign aid around the world. Also being considered is yet another scaling back in next-generation warplanes, starting with the F-35, the most expensive weapons program in United States history.

Take a read of the full report here.

The current sequestration plan will cut civilian Defense Department employee hours starting in late April, and the military warns that across the board cuts would put "two-thirds of the Army combat brigade teams will be at unacceptable levels of readiness" within a year.