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Because the wealth and debt that Obama has given to the Chinese is being used to build a blue water Navy so that China can influence world politics by showing up with a fleet. Obama is standing by as this happens. You know his brother Christopher works for the Chinese government don't you? And lives in Beijing. When Obama took office and immediately went to China to borrow $800 billion in cash for his political projects, his brother was seen by the left Dems as a great thing. He had a website that offered to assist US businesses wishing to locate their manufacturing sites to China. Now he still has a web site, but his job of recruiting US industry to China is harder to find, his site now, for our election, says he is a person there to teach piano to underprivileged Chinese kids and share his culture, blah blah, blah. Clearly, his real job is counter to the US interests and clearly having that known is counter to Obama's hope to take one more term in office where he cannot be controlled by voters.
Of course it is in reaction to the creation of a blue water fleet by the Chinese government. That has been developing for 15 years although the collapse of Chinese growth may extend the schedule. No one who watches these things is surprised at all by Panetta's announcement. It simply acknowleges a long term trend.
Since we have not full scale a naval battle in almost 70 years, I can not help but wonder if we still need and can afford same kind of navy we had during WWII with protective fleets surrounding air craft carriers the cost so much we can not risks losing them. The Navy is the most expensive part of the military and the least used.
It's not just china, you also have countries like North Korea We have just been focused on the middle east for so long that our presence in the pacific isn't where we want it to be currently. Also a lot of our economic stuff happens out there to.
That's his job as a bureaucratic puppet of the weapons industry: fuel the arms race. Same New Hampshire as in the Cold War: each side pretends to threaten the other so each govt passes a huge defense budget, and a few plutocrats in the Military Industrial Banking Academic Complex rake in the huge profits.
Panetta won't be around then. I bet you believe in the tooth fairy too.