Senator John McCain wrote in a blog post that many defense contractors believe that the impending sequestration could lead to serious problems both in national security and employment rates.
McCain, together with Senators Joe Lieberman, Jim Inhofe, Saxby Chambliss, Kelly Ayotte, Lindsey Graham, and John Cornyn have asked 13 defense contractors to join them in their appeal to stop the automatic budget cuts.
The Arizona Senator said 12 defense contractors replied and said that sequestration could “devastate the readiness of our armed forces to meet current and future threats to our nation’s security, will eliminate high-paying jobs in the industry, and will have a negative and long-lasting impact on the defense industrial base.”
McCain also said that George Mason University professor Dr. Steven Fuller estimates that sequestration could cost 1.1 million lost jobs.
He added that many contractors are delaying hiring and capital investments.
Some of the companies who responded to the senators’ letter are Northrop Grumman Corporation, The Boeing Company, EADS, Lockheed Martin, Raytheon Company, SAIC, and General Dynamics.