Fri, Feb 01, 2013
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."
Also: Legend Cub, Piper Orders, Postal UAVs?, IMC Club 'Brown Jacket Award', X-47B Refueling The Diamond DA62 has received its EASA Type certificate. After a sunny and warm day Wed>[...]
Also: United Bars Security Expert, Airborne Advisors, NTSB Video, Avidyne, Cessna, Airport Access Tempest Plus Marketing Group has announced support for Able Flight as a Platinum L>[...]
SnF2015 Sponsor: Always-Innovative Aspen Avionics Aspen Avionics specializes in bringing the most advanced technology and capability into general aviation cockpits. Our products in>[...]
Progressive Aerodyne Does it All -- Land, Sea and Sky! Explore 'no limits' living in the newly FAA certified Searey Elite Amphibious Light Sport Airplane. This distinctive aircraft>[...]
Aerospace Web Aerospaceweb.org is a non-profit site operated by engineers and scientists in the aerospace field. The goal of this site is to provide educational information on a va>[...]