Looming January defence Cuts May Cost The US 1 Million Jobs


“Sequestration” has become a dirty word for anyone remotely associated with the U.S. Military and defence.The across-the-board budget cuts set to strike the Pentagon in January would trim massive amounts of money from the defence budget and now¬†the National Association of Manufacturers says it will cost 1 million American jobs by 2014.

Lori Montgomery at The Washington Post reports the job losses may include three-quarters-of-a-million private sector jobs, including 100,000 manufacturing jobs.

The large swath of cuts would trim about $100 billion from the Pentagon’s budget next year with the goal of taming the national debt.

A full report on where the cuts will fall is expected to come out August 15.

Here’s what got axed in this year’s budget cuts >

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