A new report released by the Aerospace Industries Association predicts "staggering American job losses" as a result of the Budget Control Act of 2011, which was signed by President Obama last August. According to a press release issued by the AIA:
The report, commissioned by the Aerospace Industries Association, will update previous projections of defense-dependent job losses, and provide the first comprehensive analysis of anticipated job losses in other sectors of the economy.
"This report shows that sequestration is not just a defense problem, it’s an American problem," said AIA President and CEO Marion C. Blakey. "Unless our leaders in Washington take action, massive cuts have the potential to impact everyone from the defense worker to teachers, healthcare professionals, government employees and beyond."
"The President as Commander in Chief, and who requested these cuts be included, has yet to offer a solution to this draconian action," said Congressman Mike Turner, Republican of Ohio and chairman of the House Armed Services Subcommittee on Strategic Forces, in a statement. "While he is unwilling to come to the negotiating table, a key sector of our fragile economy swings in the balance."