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The National Association of Manufacturers says the looming cuts in Pentagon spending that would...

The National Association of Manufacturers says the looming cuts in Pentagon spending that would begin in January will lead to the loss of more than a million jobs, including 130K manufacturing jobs, by 2014. It's the latest warning by industry groups and think tanks about the impact of spending cuts put into law last year by the Budget Control Act.
Comments (11)
  • Dems will cave on the Pentagon cuts and tax cuts for rich.

     

    Repubs will cave on everything the Dems want to get the two above items.

     

    Move along.....
    21 Jun 2012, 05:32 PM Reply Like
  • get out the meat axe. whack, whack, whack!!!!!!!!!!!!!!!!!!!
    21 Jun 2012, 05:38 PM Reply Like
  • So.... nobody realized this waaaaaaaaay back when the 'budget ceiling' issue was being debated?

     

    This is news to our representatives?

     

    Perhaps they need a new line of work.
    21 Jun 2012, 06:29 PM Reply Like
  • It's called "Kick the can!"
    21 Jun 2012, 07:18 PM Reply Like
  • But seriously folks, much of the defense budget has been 'make-work' since Viet Nam. Pace Krugman it'd be better to have some of these folks digging ditches and filling them back up.
    21 Jun 2012, 06:34 PM Reply Like
  • Why not convert all our energy to defense and start looking at ways to create millions of jobs in clean energy. For example why not convert all our nuclear plants to Thorium and build new plants using this technology. That is one idea of which there are many where jobs could be created for good rather than killing.
    21 Jun 2012, 10:25 PM Reply Like
  • why not eliminate 1 million federal government
    employees jobs? get these people off
    the gravytrain.
    22 Jun 2012, 06:14 AM Reply Like
  • It's a scam as are all things concerning the Gov and the reporters who cover them. The US economy is all about the defense industry and the 1000s of supporting businesses from food to clothing.

     

    There are NO actual cuts ! Only cuts to the increases planed.
    116 trillion debt an unfunded liabilities and it's growing. And,we all
    ( except me ) want more please !

     

    Seems to me you've all had your Krugman vaccinations !
    22 Jun 2012, 06:24 AM Reply Like
  • Bill Foster: "I am not economically viable. "
    22 Jun 2012, 08:00 AM Reply Like
  • Professor of Luthier studies at Northampton Community College. Author of Gone Away Into the Land.

     

    Borrowing is easy. Living well off the borrowing is easy. Printing money is easy. Living well off the printed money is easy. Stopping an addiction is hard . . . especially when an entire nation and, for that matter, an entire world is the addict. This will not end well, but it will end, and after years of reconfiguration of governments and finances and many years of hard times and perhaps spots of anarchy the corporations will be as the Catholic Church was during the middle ages. They are already positioning themselves, however, they have no collective leadership. That will come in the form of Big banks who have also been positioning themselves ever since JP Morgan and his cohorts created the Fed and twisted Pres. Wilson's arm to sign it into law. Read his memoirs on this subject - you will be surprised.

     

    Kennedy tried to dissolve the Fed by issuing Government backed money in the form of Silver Certificates, but Kennedy was killed. No president has dared do that ever since, yet the law Kennedy championed to re allow the government to issue money is still in effect. It sometimes seems like a conspiracy of world banks to bankrupt every country by making them borrow from themselves and each other.

     

    If we want to solve this problem we need to make the Federal reserve the fourth branch of government and have congress audit its activities, and the executive branch control its leadership, and the Judiciary Branch of our government place it under constitutional scrutiny.

     

    That is the only way we will solve the debt crisis. But perhaps it is too late. The plan is too far into its stages. Kudos to JP Morgan as he smiles from the grave. The way to rule the world is to control its currency. So simple.
    22 Jun 2012, 09:33 AM Reply Like
  • i don't know how to or am set up for a picture.

     

    Budget cuts could be done by bits and pieces, not all 100% cuts at one time, that is if anyone in Washington has a brain, decisions on what to cut and by how much so that it will smooth any problems with the economy will require some heavy thought and guts.
    22 Jun 2012, 10:09 PM Reply Like
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