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The US Navy is short of the munitions it would need to fight a war. Navy inventories of such items as mines, torpedoes, and air-to-air missiles is only half full, according to reliable sources. They say it may take $1 1/2 billion a year for five years to rectify the problem.

Congress is responsive: All administration requests for Navy munitions for fiscal 1981 were met. And Reagan is expected to pump new money into all the services.m

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