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US – Defense cuts could impact 100000 jobs

A harsh round of federal budget cuts could cost Huntsville thousands of jobs.

The White House released a report on the upcoming automatic spending reductions known as “sequestration.” The cuts are due at the end of the year.

Experts on government budgets and contracts said this could easily cost more than 100,000 jobs and the impact would be especially harsh in communities that depend heavily on defense spending like Huntsville.

The White House said the cuts will be deeply destructive to national security, that sequestration is bad policy and calls on congress to take action to avoid it.

The defense budget will be cut nine and a half to 10 percent, more than $50 billion next year alone.

That would have devastating impact in industries that work with the military like many of the businesses in Research Park.

The report pointed out that these automatic cuts were never really meant to happen, just the threat of them was supposed to force budget negotiators to reach a deal to cut the federal deficit, but they never could…

Defense cuts could impact 100000 jobs
http://www.waff.com/story/19551550/defense-cuts-could-afe

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