CUTS DOWN UNDER: Australia will rein in defense spending and scale back increases in foreign aid as it tries to become the first major developed economy to balance its books after the global economic crisis.

DEFICIT DOUBLED: The budget deficit for the current year has almost doubled from the forecast a year ago, to reach $44.4 billion _ about 3 percent of the nation's economy.

STILL DEPLOYED: The government found $33.6 billion in savings, including $5.4 billion from defense over four years. The cuts would not affect Australia's overseas military deployments, including 1,550 troops in Afghanistan, according to government documents.