Undated (Indiana’s NewsCenter) – The threatening federal budget cuts could kill defense spending.
The Department of Defense will lose $55 billion in January and nearly $500 billion over a decade.
Those cuts will translate to the loss of more than a million defense-related jobs, according to a new report conducted for the Aerospace Industries Association.
The budget cuts are the consequence of the failure of a bipartisan panel to cut the deficit by more than a trillion dollar and affect more than just the Defense Department.
The report found the across the board cuts would reduce the nation's gross domestic product by $215 billion next year.
What are your thoughts CLICK HERE to leave us a "QUESTION OF THE DAY” comment.
© Copyright 2016, A Quincy Media broadcasting station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.