Sequestration is more than a buzz word in the GovCon industry and Center for Security Policy President Frank Gaffney has crunched the numbers to show just how significant directed cuts are to GovCon operations and the American population.
Gaffney penned his findings in the Spring 2012 edition of GovConExec magazine, which is published by Executive Mosaic, the parent company of ExecutiveGov and a host of other websites focusing on the GovCon industry.
In the “INSIGHT” section, a regular forum for industry experts to offer exclusive market analysis, Gaffney expands upon the center’s “Defense Breakdown Economic Impact Reports,” an outline of the potential economic fallout from the potential $1 trillion defense budget cut.
The Defense Department will cut $487 billion over the next decade in a first round of reductions and a second round totaling $500 billion appears set to happen after a supercommittee’s failure last fall to come up with a plan to reduce the federal deficit.
Beginning with this baseline, the Washington Times columnist and nationally-syndicated radio host breaks down the impacts of sequestration in Virginia, California and Arkansas in terms of job losses, earnings and gross state products.
Gaffney argues that national security-related jobs provide great public benefits, including providing for the common defense, advancing technology and producing economic vitality.
Delve into sequestration and find much more in the Spring 2012 issue of GovConExec here.