NM Costs of Sequestration Steep

NM Busness Weekly - New Mexico could lose up to 8,216 jobs and $150 million a year in defense contracts if federal budget cuts scheduled for January take effect, according to a new study. Those job losses would include 3,600 active-duty military and civilian defense department personnel, and 4,600 private sector employees, according to the Washington, DC.,-based Center for Security Policy.
The job-loss calculations were based on President Barack Obama’s efforts to cut the defense budget by $487 billion, a 9 percent reduction, between 2013 and 2021, and 18 percent reductions the group said are possible as a result of the sequestration cuts scheduled to begin in January. Read full story here: News New Mexico


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