The report, by the National Association of Manufacturers (NAM), is the latest in a growing heap of studies warning of dire economic consequences if policymakers fail to avert about $100 billion in cuts to the Pentagon and nondefense programs next year.
Across-the-board budget cuts scheduled to hit the Pentagon in January would eliminate nearly 1 million jobs by 2014, with Virginia, California and Texas absorbing the biggest hits, and Washington state losing more than 25,000 positions, according to an analysis released Thursday.
The job losses probably would include about 750,000 private-sector positions, including about 100,000 jobs in manufacturing, even as President Obama is promoting manufacturing as key to the nation’s economic recovery.
The report, by the National Association of Manufacturers (NAM), is the latest in a growing heap of studies warning of dire economic consequences if policymakers fail to avert about $100 billion in cuts to the Pentagon and nondefense programs next year. The cuts, known as a budget “sequester,” were adopted last summer as part of a debt-reduction deal…
via Automatic Pentagon cuts could wipe out nearly 1 million jobs | Politics | The Seattle Times.
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