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Report: If sequestration is triggered, Virginia could lose thousands of defense jobs
Posted by Randy | March 13, 2012

Under defense budget “sequestration,” 122,900 defense-dependent jobs will be lost in Virginia. That is according to a new study on the Aerospace and Defense Industry by consulting and auditing services company DeLoitte. The report points out that “defense budget declines may impact direct and indirect employment, ability to conduct research and development, and taxes paid.”

Here are some key takeaways from the study:

  • The U.S. aerospace and defense industry directly employed 1.05 million workers in America in 2010.
  • The industry has an estimated indirect and induced employment of 2.36 jobs for every 1 directly employed. The grand total direct, indirect and induced employment associated with the U.S. aerospace and defense industry is 3.53 million jobs.
  • In 2010, Aerospace and Defense workers received $84.2 billion in wages and paid $15.4 billion in U.S. Federal individual income taxes, and $1.9 billion in state individual income taxes.
  • The average U.S. Aerospace and Defense worker earns $80,175 a year, almost double the U.S. average.
  • Aerospace and Defense drives 2.23% of U.S. GDP.
  • Aerospace and Defense supports 113,434 jobs in Virginia. Under defense budget “sequestration,” 122,900 jobs will be lost in Virginia.

The bottom line is this: If sequestration is triggered, it will cripple our defense industrial base and the losses will be felt across the U.S. economy.  I have long said that drastic defense budget cuts risk a weakening of the pillars of America: trade, jobs, innovation, and the American way of life.

Read the full study by Deloitte here.

Read about my work to maintain a strong defense and a strong America here.  

Weigh in: are you concerned about the impact defense cuts could have on America?

Comments
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  • Thomas G commented on 3/13/2012
    Imagine this...wouldn't it be better to state that the congress of the United States has been a miserable failure in its stewardship of the economy, brought to its knees by the disasterous Bush tax cuts that congressman Forbes fully embraced in spite of having to STILL work to shove our great nation into default? It is clear now and the public's support of this congress at woeful historical lows cannot even hide the record of the economical failure of the Bush administration. I'm concerned congressman that you cannot do your job, cannot work with your colleagues and that you have no plan whatsoever for the nation's economy.
  • Kate Roll commented on 3/16/2012
    State of the ecomomy? Maybe a budget from the Democrat controlled Congress and Senate what of been a nice start. But why should we let details and facts cloud the debate? Give us Barney Frank and Frannie and Freddy. Don't worry about having a job or actually paying on the house. I am a high school graduate and have purchased a home, never missed a payment, budgeted for worse case scenario's and NEVER thought the American goverment or people are my personal banking account. This housing market is a direct result of goverment intrusion into the free capital market. Might I add, I do feel a tinge of remorse for Mr. Obama. Apparently, Bush is the man in charge and is slinking down 1600 avenue. Sad for Mr. Obama to be a President in title only. Keep up the good work Mr. Forbes. This is America. We will survive the EPA, algae and to many economical failures to mention. We know lies when we hear them and we will boot them out on their lovely rears when the time comes.
  • Thomas G commented on 3/18/2012
    To Kate: The truth is that in congressman Forbes first 8 years in Washington after being sent there to a balanced budget, a climate of actually paying down enormous debt that was run up in the Reagan and first Bush terms, the congressman helped the last Bush administration run up 7.5 TRILLION dollars in debt. Apparently your support for those policies makes you somewhat complicit in the state of affairs. Both past and present chairmen of the Federal Reserve warned Mr. Forbes of the problems with the Bush cuts, debts your support of policy piled upon us all with borrowed money. The congressman voted to shove our great nation into default, in spite of serious warnings by the Fed, corporate America, economists from across the spectrum, the American people, the IMF and past and present Treasury secretaries all of sounded serious alarms! This was an enormous and irresponsible lack of poor judgment. In my view, the position was so irresponsible Mr. Forbes should simply resign given the erosion of public support and recklessness. There has been no advocacy whatsoever to act to pay for the trillion spent in wars either. And frankly, the GOP relentless march toward deregulation directly led to the abuses on Wall Street bringing the nation to its knees. Just how many headlines of private capital market frauds is it going to take to get your attention? Here we are with congressman Forbes refusing to even answer a question regarding the minimum wage while refusing to even show up to vote for the middle class tax cut extension. Further, the congressional budget office issued a report recently debunking the claims Mr. Forbes has made regarding the impact of regulations, and it was President Obama's administration that acted to modified or retire hundreds of regulations that have outlived usefulness. We are not receiving the truth from congressman Forbes on issue after issue. I do not know why congressman Forbes refuses to act to restructure the tax rates of millionaires and billionaires when the tax cuts for 'job creation' never delivered on the jobs. It is astonishing what has happened in terms of the income gap in America over the past 30 years. Congressman Forbes has been utterly invisible on all of these central issues. I might add, that support for performance based contracting actually led to 600 Billion dollars in additional costs. I agree with you on one thing, the time is coming for change in the congress, and caving to the Grover Norquist blackmail pledge will ultimately be seen as the most unpatriotic and irresponsible act in American history...if the nation survives the policy incompetence Mr. Forbes enabled.
  • Kate Roll commented on 3/20/2012
    Thank you Thomas. Yes, I am complicit. You fail to mention an attack on American soil and three thousand lives aniliated by fanatics during President Bush term. Cut from a different piece of American cloth as a veteran I am not a citizen of the world or part of the apology tour that this "Commander in Chief" enacted. War cost money Mr. Thomas and it might be to queezy for liberals: however, I fervently believe that Bush was the right man for the right time in American History. The fact also is that gentlemen such as your self: we do no want in our military. We want warriors. Men and woman who pay the true cost of liberty and a deterent by strength, thus do not tread on me. To complete this reality Iraq did not implode, civil war did not occur. President Bush did not capture their oil fields and woman had a voice for the first time and voted. I know what the cost was and is. I am proud and unashamed of President Bush. He had backbone and a strong conviction. Maybe 3,000 lives mean nothing and we should sit like beggers at the throne of the UN but for once we had pride. I adore rich people. I appauld them for having the moxy and intelligence to create job and live a life of luxuary. They earned it. Envy is very unbecoming, I like millionaires like President Obama and and have no problem with children like his born into privilege. To tax someone for achieving is deplorable. People in my opinion are just ticked off because they couldn't do it. Therfore they want a cut because they "didn't make the cut". So sure, they owe you. Really? So, the CBO made a slight addition error. Health care went from 900 billion and now is 1.7 trillion. I think pass the bill and read it is for fools. Where do I get an education like that? Naw, think I'll pass because with all your wonderful high minded words you didn' make a point of living in the here and now. Common sense is a lost art. Living life looking through a rear view mirrow is for the weak. Where is our leadership now? Hiding under a chair afraid of Congresssman Forbes Stay there. At 16 trillion I think Obama "might" have some skin in the game. Additional cost? Your worried about President Bush. Hee- hee! Obama is the patriciate saint of additional cost. Cash for clunkers, Fanny and Freddie, failed energy , higher gas prices, and printing money and begging the Chinese for more please....just a little more loan and we will gladly pay you Tuesday for a hamburger today. Congressman Forbes this election will be such a sure thing for all republicans. Stand firm and you must keep telling us the truth. Sorry Mr. Thomas but we respect our congressmen and he will be with us for sometime. Thank you and my best to you Mr. Thomas. Civil discourse and not occuping wall street is the highest road and the only one to be traveled. I grew up poor but I was never trash and believe me. I know it when I see it.
  • Gregg J commented on 12/12/2013
    The two problems with this country are called democrats and republicans. Doubt me, look at American history, if you have the guts.
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