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Business/Financial

Report Increases Sequestration Job-Loss Prediction

Julie Samuel

Wednesday, July 18th, 2012

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A defense-industry group unveiled a report warning so-called sequestration budget cuts could lead to the loss of more than 2 million jobs yesterday as Democrats and Republicans clashed on Capitol Hill about preventing the cuts partly with new revenues. In a report commissioned by the Aerospace Industries Association (AIA), George Mason University professor Stephen Fuller predicts just the first year of sequestration cuts--which, if implemented next January, would cut defense and non-defense spending by $1.2 trillion over a decade--would lead to the…

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