77°
Baton Rouge, Louisiana
3 Day Outlook
Sat
84°
69°
80%
Sun
84°
68°
60%
Mon
86°
67°
50%
Follow our weather team on social media

Report: 2M jobs lost if automatic cuts kick in

2 years ago July 17, 2012 Jul 17, 2012 Tuesday, July 17 2012 Tuesday, July 17, 2012 8:00:20 AM CDT in News
Source: Associated Press

WASHINGTON - A new report on the government's looming automatic spending cuts estimates they will cost the economy more than 2 million defense and domestic jobs.

The study was done by Dr. Stephen Fuller of George Mason University and Chmura Economics and Analytics. It was conducted for the Aerospace Industries Association, but examined the shared pain for defense and domestic programs from the across-the-board reductions that kick in Jan. 2.

The analysis is similar to other cautionary reports that have emerged in recent months from independent organizations that analyze federal spending. Congress is under pressure to find a way to avoid the cuts but Republicans and Democrats remain deeply divided.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
5 Days
Today
77°
70°
Sat
T-Storms
84°
69°
Sun
Scattered T-Storms
84°
68°
Mon
Scattered T-Storms
86°
67°
Tue
Isolated T-Storms
87°
67°