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Search Tags: sequestration
Civilian agency payrolls would be most vulnerable under automatic budget cuts set to kick in on Jan. 2. A new AIA and George Mason University study claims 229,000 non-defense federal jobs would be eliminated.
Tags: Congress , Budget Control Act , workforce , pay and benefits , Marion Blakey , Aerospace Industries Association , Stephen Fuller , George Mason University , Jeanne Shaheen , Kelly Ayotte , Gordon Adams , Jared Serbu
Roughly five months until across-the-board budget reductions, known as sequestration, are set to kick in, the Aerospace Industries Association unveiled a new report Tuesday that warned of jobs losses, billions in losses to the economy and a blow to wages from the $1.2 trillion, 10-year cuts in defense and domestic programs. The report comes amid a cacophony of election-year demands and partisan backbiting over how to avert the impending cuts that will only grow louder in the coming weeks. Lawmakers agree that it's imperative that Congress move swiftly before the November election to avert the cuts, but have offered wide variations on a solution.
On this week's Bloomberg Government Capital Impact show, defense analysts examine which types of contractors would be most affected by sequestration. Plus, how are corporations spending money on the presidential election?
Letter, sent to 15 large vendors, asks for estimated impacts of sequestration on defense contractors.
Tags: DoD , Congress , budget , defense industrial base , John McCain , Kelly Ayotte , Joe Lieberman , Saxby Chambliss , John Cornyn , James Inhofe , Lindsey Graham , Lockheed Marting , Aerospace Industries Association , Jared Serbu
Legislation requiring Defense Department to disclose budget-cutting contingency plans would be attached to 'every bill that walks'
Tags: DoD , DoD budget , Congress , Kelly Ayotte , Steven Bucci , Heritage Foundation , Brookings Institution , Ashton Carter , American Enterprise Institute , John McCain , Lindsey Graham , Jared Serbu , Michael O
Chairman of the Joint Chiefs of Staff, Gen. Martin Dempsey, in a visit to the Offutt Air Force Base in Nebraska, discussed the challenges facing the Defense Department. Also, Sen. Kelly Ayotte (R-N.H.) discussed the challenges of sequestration in a keynote address at a Brookings Institution event.
National Institutes of Health Director Francis Collins and members of the House Energy and Commerce Committee subcommittee on Health shared concern about effects of potential sequestration on the agency, specifically in the area of funding grants.
The Office of Management and Budget has reiterated to lawmakers that the automatic, across-the-board budget cuts known as sequestration will apply to wartime funding. In a June 15 letter, to Rep. Buck McKeon, the chairman of the House Armed Services Committee, Office of Management and Budget Acting Director Jeff Zients wrote that the Budget Control Act allowed no "flexibility" to exempt Overseas Contingency Operations (OCO), from sequestration.
On the In Depth show blog, you can listen to the interviews, find more information about the guests on the show each day and links to additional resources. Across-the-board mandatory cuts have a lot of people on edge, especially those who work closely with the Defense Department. Across-the-board mandatory cuts have a lot of people on edge. But some of the rhetoric could be overblown, says Benjamin Friedman, a research fellow in defense and homeland security studies at the Cato Institute.
Benjamin Friedman, a CATO Institute research fellow, said sequestration prevents intelligent spending cuts, but that doesn't necessarily mean DoD lacks room to make smarter ones.