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Friend -
I want to share with you this video my office has put together, discussing looming defense cuts and their threat to jobs and those who serve. To watch the video, click here or click the image below.
Defense Cuts Could Up Jobless Rate by 1%
Defense Secretary Leon Panetta has warned Congress that if lawmakers fail to agree on debt-ceiling talks and trigger $1 trillion in Pentagon budget cuts, they could add 1 percentage point to the nation's jobless rate.
Let's take a look at this 1% - or 1.53 million jobs - in the perspective of our national economy.
- Would exceed all of the job losses in the construction industry during the recession.
- Equates to 76% of all of the job losses in manufacturing during the recession.
- More than triples the job losses seen in the leisure & hospitality industry, and more than quadruples the job losses in the transportation & warehousing industry during the recession.
Even if Secretary Panetta’s job loss numbers are off by as much as 2/3, the losses would be devastating. If only 500,000 jobs are lost:
- We are looking at firing more people than the number of unemployed individuals in West Virginia, New Mexico, Maine, Nebraska, Montana, Hawaii, New Hampshire, Delaware, Alaska, South Dakota, Vermont, Wyoming, and North Dakota COMBINED.
- We are looking at eliminating more jobs than those lost during the six worst months of 2010.
Defense cuts would devastate our economy in a way that we cannot afford. Read about my work to stop these cuts at www.forbes.house.gov/strongamerica
- Randy
PS: Share this video and email with a friend by clicking here.
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