IAM President Warns Against Deep Defense Cuts
October 25, 2011
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| IAM President Tom Buffenbarger (center) joins Aerospace Industries Association President and CEO Marion C. Blakey (left) and George Mason University Professor Dr. Stephen S. Fuller (right) in press conference on importance of U.S. aerospace jobs. |
The IAM joined forces with the Aerospace Industries Association (AIA) at the National Press Club in Washington, D.C., to denounce the federal budget proposals that would cut nearly a trillion dollars from the U.S. defense budget.
The press club event also marked the release of an AIA-commissioned study that predicts dramatic job losses and devastating economic impact should the proposed budget cuts be put into motion.
“Cutting a trillion dollars from defense spending does more than kill off one million jobs,” said IAM International President Tom Buffenbarger. “It means billions and billions in lost tax revenues for federal, state and local governments. At the same time, states and the federal government will incur higher costs for unemployment benefits, food stamps, Medicaid and re-training.”
“We cannot cut, cut, cut our way to prosperity,” said Buffenbarger. “That’s the Grecian Formula. And we’ve seen just how well that works – austerity programs have led to higher unemployment which led to even more severe austerity programs. Policymakers need to focus on creating jobs, hiring workers and investing in our industrial base.”
