July 17, 2012
Updated Jul 17, 2012 at 5:35 PM EDT
Undated (Indiana’s NewsCenter) – The threatening federal budget cuts could kill defense spending.
The Department of Defense will lose $55 billion in January and nearly $500 billion over a decade.
Those cuts will translate to the loss of more than a million defense-related jobs, according to a new report conducted for the Aerospace Industries Association.
The budget cuts are the consequence of the failure of a bipartisan panel to cut the deficit by more than a trillion dollar and affect more than just the Defense Department.
The report found the across the board cuts would reduce the nation's gross domestic product by $215 billion next year.
What are your thoughts CLICK HERE to leave us a "Your2Cents” comment.
Want to be in the know for the next weather event, the next school closing or the next big breaking news story?
TextCaster alerts from Indiana's NewsCenter are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!
Powered by Summit City Chevrolet
TextCaster alerts from Indiana's NewsCenter are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!
Powered by Summit City Chevrolet
© Copyright 2013 A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Textcaster
Facebook
Twitter