Automatic cuts in federal spending will cost the economy more than 2
million jobs, from defense contracting to border security to education,
if Congress fails to resolve the looming budget crisis, according to an
analysis released Tuesday.
The study, obtained by The Associated Press, was conducted for the
Aerospace Industries Association, but it examined the shared pain for
defense and domestic programs from the across-the-board reductions
slated to kick in Jan. 2. The cuts would reduce the nation's gross
domestic product by $215 billion next year while consumer confidence
would plummet, said the report by Dr. Stephen Fuller of George Mason
University and Chmura Economics and Analytics.
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2 comments:
boohoo. Say NO to more public sponges!
2 Million GOVERNMENT jobs... Free up those capitalist pigs (read true PRODUCERS of products) and bring American jobs back to America!
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