Business leaders, research scientists and health policy advocates came together in Washington to oppose government sequestration in a new video by the Machinists News Network.
Wes Bush, CEO of Northrup Grumman, a massive military manufacturing contractor, which employs thousands of Machinists members, says the threat of sequestration is already threatening the jobs of IAM members at his company, as well as workers at supply vendors nationwide.
“We know this process is already having a big impact,” said Bush. “It’s having an impact across the country as far as corporations’ willingness to invest and hire. So this is costing our country something today. It’s causing a problem with confidence both domestic and internationally.”
Sequestration means mandatory, across-the-board cuts in federal spending. If Congress can’t reach a budget deal by March 1st, the $1.2 trillion in cuts will take effect and continue over a 10-year period. Half of those spending cuts will occur at the Pentagon.
“Massive indiscriminate cuts to defense and other important functions of government truly do threaten our national security, stop our ability to stay ahead of the global innovation race and will tank our fragile economy,” warned Marion C. Blakey, President of the Aerospace Industries Association. “Sequestration, if it goes forward, will put 2.1 million U.S. jobs at risk. These are defense and non-defense-related jobs and they include nearly one million small businesses. It will cause the unemployment rate to rise by 1.5 percent.
Click here to watch “Stop Sequestration.”
TAKE ACTION: Click here to tell Congress to “Avoid Sequestration, Avert Debt Crisis by Creating Jobs.”