Thursday, February 21, 2013

Thanks to President Obama, 300,000+ could face job losses, layoffs, or furloughs after March 1

Nice idea of yours Mr. President..Sequester. NOW What are YOU going to do about it?
Budget cuts by the Air Force, Army and Navy scheduled to take effect March 1 will force almost $34 billion in wage and spending reductions and prompt furloughs or layoffs for millions of people, according to documents obtained by USA TODAY. 
The Army's estimated cuts will force $15 billion in wage and spending reductions and prompt furloughs or layoffs for 300,000 people nationwide, while the Navy could face $11 billion in similar cuts affecting a potential 186,000 employees, records show. The Air Force estimates $7.7 billion in lost pay for its civilian employees. 
Hardest hit states by the Army cuts include Alabama, Texas, Virginia and Pennsylvania. Among the least affected: Delaware, Wyoming, Montana and Rhode Island.
[...]
Overall, the military faces $500 billion in budget cuts over 10 years from sequestration -- automatic budget cuts. The Pentagon anticipates that it will need to slash $46 billion in spending cuts by the end of this fiscal year on Sept. 30 for all the services to meet the requirement for 2013. Defense Secretary Leon Panetta has said the cuts could render the U.S. military a second-rate power.
Read the whole story HERE and view an interactive map by clicking the map below:

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