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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