Study: California Could Lose 125,800 Defense Jobs
October 31, 2011
California could lose 125,800 defense and aerospace jobs if Congress more than doubles the $350 billion to $400 billion in cuts that are scheduled to be made in defense over the next decade, says a new report sponsored by the Aerospace Industries Association (AIA), an industry group. (Earlier versions of this story incorrectly said millions of dollars.)
The report also says that about 1 million jobs would be lost nationwide, causing a drag on the economy. The analysis was performed by George Mason University and appears to represent a worst-case scenario that would play out over years, starting in 2013.
The study comes as the 'Super Committee' -- a bi-partisan group of 12 members of Congress -- is meeting to find ways to make deep cuts in the federal budget. The committee has until Nov. 23rd to come up with its recommendations. If talks fall apart, it could lead to hundreds of billions of dollars in additional cuts in the nation's military budget.