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

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 06.29.17

Airborne 06.26.17

Airborne 06.27.17

Airborne 06.28.17

Airborne 06.29.17

Airborne 06.23.17

Airborne-Unmanned 06.27.17

Airborne-YouTube

AMA 06.22.17

Airborne 06.26.17

Airborne 06.27.17

Airborne 06.28.17

Airborne 06.29.17

Airborne 06.23.17

Airborne-Unmanned 06.27.17

XPONENTIAL Innovation Preview -- www.allthingsunmanned.com

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

ANN's 2017 AirVenture Innovation Preview is Going To Be A Stunner!

Early Confirmations Show An Amazing Assortment of Exciting New Products and Technologies! It may be the most impressive line-up of new technology to ever be featured in our Innovat>[...]

Airborne 06.27.17: SpaceX Doubles!, Sean Tucker Retirement, FA Changes

Also: Shoreham Update, Aero-Calendar, AUVSI, Fighter Pilots, André Borschberg, Airport Crimes, Drone Conference SpaceX, in the midst of a greatly accelerated launch pace, pu>[...]

Airborne-Unmanned 06.27.17: AUVSI On Senate Bill, Intel Olympics, NIGHTWARDEN

Also: DRL Winner $$, Kespry Enters Insurance Sector, Drone Sim Market, Automated Vehicles Symposium Brian Wynne, president and CEO of AUVSI, issued a statement on the unmanned airc>[...]

AMA Drone Report 06.22.17: FAA Reauthorization, Rotor Riot Int'l, DRL on ESPN

Also: Drones at Oshkosh!, Drone Regulatory Effort, AMA Drone Report-Help Wanted, Aero-TV: MultiGP Drone Racing The House of Representatives has published initial language to reauth>[...]

U.S. Rocketry Students Impress At Internationals, Win Gold

Students From Festus, MO Become Third Consecutive U.S. Team To Take Top Spot The 10-student team from Festus High School in Festus, MO bested the world's best rocketry teams and to>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC