New York City's Fleet Week may not be cancelled this year but it will be significantly scaled back because of sequestrian. It was first thought that the annual melee would not take place after the $85billion across-the-board budget cuts which arrived in February. A Navy official confirmed that it will happen on a much smaller scale: 'It's not going to look like anything we've seen in the past. We are not going to be able to support it like we have in the past.' Tradition: Sailors stand on the deck of the USS Iwo Jima as it passes by the Statue of Liberty to kick off Fleet Week in New York in 2011 Celebration: Sailors line the mast of the tall ship ARC Gloria, training ship and official flagship of the Colombian Navy, as it passes the Statue of Liberty in New York Harbor while arriving for the 25th annual Fleet Week last year The annual celebration, in which recently deployed ships dock at major cities for a week, usually draws hundre