The Midlands could lose dozens of millions of dollars in military contracts if the 10-year, $500 billion cuts to the nation’s defense budget under sequestration occur later this year, according to a right-wing think tank specializing in national defense.
Sequestration is an automatic, near trillion dollar spending cut triggered in 2013 unless Congress passes a debt reduction measure by Dec. 31.
Rep. Joe Wilson’s Congressional District, South Carolina’s 2nd, has more than 200 military contracts and could lose approximately $76 million in defense contracts, according to the reports.
The Congressional District Reports provide a 2011 baseline to see how congressional districts may be affected by the planned across-the-board sequestration cuts in the 2013 defense budget.
The Washington, D.C.,-based The Center for Security Policy posted new Congressional District Reports to aid in estimation of the potential local economic impacts of sequestration. The reports are free and available online to the public at http://forthecommondefense.org/districts.
To view detailed reports with 2011 data showing the 18 percent sequestration cuts for all U.S. states and territories, counties and cities go to http://forthecommondefense.org/reports.
The data release is not without ties to politics. The Center for Security Policy cites Aerospace Industries Association in its press release, quoting:
“Four out of five likely voters in critical battleground states want our leaders in Washington, DC to find an alternative to ‘sequestration’ budget cuts before the November elections take place, according to a Harris Interactive online poll.”
According to the think tank, Congressional District Reports are a tool to help local officials and businesses prepare for the possible impact of job losses and harm to local communities from the sequestration budget cuts. These sequestration defense budget cuts will be an estimated total of 18% or more when combined with earlier budget cuts.
This article can be read here: http://lexington-sc.patch.com/articles/report-sequestration-could-cost-midlands-75-million-plus