Panetta sworn in as new Pentagon chief

According to Xinhua, Panetta took the oath of office in an invitation only ceremony. He was sworn in by Department General Counsel Jeh Johnson. Taking the oath transferred responsibility for the department from predecessor Robert Gates.

After the low-key ceremony, Panetta pledged in a message to the department there will be no "hollow force" on his watch.

"Even as the United States addresses fiscal challenges at home, there will be no hollow force on my watch," he said. "That will require us all to be disciplined in how we manage taxpayer resources."

Panetta has served as director of the Office of Management and Budget and White House chief of staff in the Clinton administration. Throughout his career, he said, he has focused on being disciplined with the taxpayers' money, but not short-changing security.

"We must preserve the excellence and superiority of our military while looking for ways to identify savings," he said. "While tough budget choices will need to be made, I do not believe in the false choice between fiscal discipline and a strong national defense. We will all work together to achieve both."

Later in the day, Panetta was to meet with Deputy Defense Secretary William Lynn III, and participate in a meeting with the members of the Joint Chiefs, said Doug Wilson, assistant secretary of defense for public affairs.

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