AIA Sounds Alarm On Economic Downturn Report | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 05.23.16

Airborne 05.24.16

Airborne 05.25.16

Airborne 05.19.16

Airborne 05.20.16

Airborne Hi-Def On YouTube

Airborne 05.23.16

Airborne 05.24.16

Airborne 05.25.16

Airborne 05.19.16

Airborne 05.20.16

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 2016 Innovation Preview on YouTube!

Fri, Feb 01, 2013

AIA Sounds Alarm On Economic Downturn Report

Blakey: Sequestration Threatens National Security And Country's Economic Health

The contraction of the U.S. economy in the fourth quarter underscores AIA's warning for the past 18 months that severe across the board budget cuts—both to defense and non-defense discretionary spending—threaten to throw the economy into a tailspin. That's the assessment of Aerospace Industries Association president and CEO Marion Blakey (pictured), who said in a statement released Wednesday that it is clear from the Commerce Department report that reduced government spending, primarily in the defense sector, is a major cause for the GDP decline. In July 2011, Congress enacted a cut of $487 billion to the defense budget, resulting in ongoing, significant job losses in the defense sector.

"In less than 30 days, unless Congress and the White House act, sequestration will kick in, leading to higher unemployment, reduced tax revenue and lower consumer spending. This will be the second wave that overwhelms our floundering economic boat, likely sinking us back into a recession," Blakey said in the statement. 

Blakey pointed out that as recently as Wednesday, Chuck Hagel, nominee for the position of Defense Secretary, said, "[Sequestration] would harm military readiness and disrupt each and every investment program. I urge Congress to eliminate the sequester threat permanently and pass a balanced deficit-reduction plan."

"Sequestration threatens both America's national security and economic health," she said. "Congress and the White House need to focus on a solution that addresses the deficit problem smartly, through a balanced, bipartisan approach that doesn't cripple our economy and hamstring our national security."

FMI: www.aia-aerospace.org

Advertisement

More News

It's On! EAA/ANN Announce 2016 AirVenture Innovation Preview!

Stunningly Successful Innovation Program Drew Nearly 100,000 Eyeballs to ‘All Things AirVenture’ E-I-C Note: Our partner, the Experimental Aircraft Association, release>[...]

Airborne 05.23.16: Si2 Lands in Dayton, BellHeli Relocation, Santa Monica Update

Also: Rockwell Collins, RC Antonov AN-225, Safety Culture In Alaska, Sonic 'Thump', Drone Reg. Data, Aiming For Mars, Hawaiian Pilots The Solar Impulse-2 crew alerted ANN, early Sa>[...]

Airborne 05.23.16: Si2 Lands in Dayton, BellHeli Relocation, Santa Monica Update

Also: Rockwell Collins, RC Antonov AN-225, Safety Culture In Alaska, Sonic 'Thump', Drone Reg. Data, Aiming For Mars, Hawaiian Pilots The Solar Impulse-2 crew alerted ANN, early Sa>[...]

Anti-Icing Treatment Research Focuses On Turbine Blades And Propellers

Piedmont Propulsion Systems, Oak Ridge National Laboratory Collaborated On The Project Oak Ridge National Laboratory (ORNL) and Piedmont Propulsion Systems, LLC (PPS) recently conc>[...]

AD: Airbus Airplanes

AD NUMBER: 2016-10-08 PRODUCT: All Airbus Model A330-200 Freighter, A330-200, A330-300, A340-200, A340-300, A340-500, and A340-600 series airplanes.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC