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.
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