|Eroding Defense Manufacturing
Under sequestration, DoD procurement of new weapons systems and recapitalization of its existing assets is poised for substantial decline. Not only will this put many skilled Americans out of work, it undercuts the future readiness of our Armed Forces and has a ripple effect on our economy. In Congressional testimony during the fall of 2011, economic experts from George Mason University presented the following analysis :
• Over 352,000 jobs lost from the prime DoD contractors and their suppliers
• 653,000 additional jobs lost from induced spending effects of the direct job losses (lost wages not spent at local retailers, on construction, at car dealers, on health and education etc.)
Abdicating Our Competitive Edge
Today Russia and China operate a combined 12 fighter and bomber production lines. U.S. capacity is quickly shrinking to one active line.