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You are here: Home / Government Contracting News / Study: Contractors exaggerate job loss from Defense budget cuts

February 21, 2013 By AMK

Study: Contractors exaggerate job loss from Defense budget cuts

Private industry’s warnings that automatic defense cuts under sequestration would cost more than 1 million jobs are exaggerated, according to a new study by a national security think tank.

“Despite claims made by defense contractor funded reports, the Pentagon is not a jobs program,” said William Hartung, director of the Arms and Security Project at the Center for International Policy. “Pentagon spending is a drag on the economy, not a spur to economic growth.”

The center’s report, called “Minimum Returns: The Economic Impacts of Pentagon Spending,” offers quantitative, state-by-state analysis intended to counter arguments from groups such as the Aerospace Industries Association that defense cuts will harm local economies.

The left-leaning group also argues that a well-planned drawdown in defense spending will not harm national security. “Now is the time to get serious about developing a forward-looking defense strategy that aligns with national priorities and reshapes the Pentagon budget so we can better respond to 21st century threats,” Hartung said in a statement. “A well-educated and healthy workforce supported by state-of-the-art technology, not wasteful Pentagon programs, holds out the best hope of spurring sustainable economic growth.”

Keep reading this article at: http://www.govexec.com/contracting/2013/02/study-contractors-exaggerate-job-loss-defense-budget-cuts/61202/?oref=govexec_today_nl.

Filed Under: Government Contracting News Tagged With: budget, budget cuts, DoD, industrial base, spending, technology

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