VIDEO: U.S. President Gives Speech on Impact of Sequester at NSS

U.S. President Gives Speech on Impact of Sequester at NSS

Unless Congress takes action, over the next few weeks the U.S. economy will be hit with harmful automatic cuts that threaten hundreds of thousands of middle class jobs. President Obama yesterday visited, 26 February, shipyard in Newport News, VA to talk about what these cuts — which are known as the sequester.

While the full damage of these cuts will spread to nearly every corner of USA economy over the next few months, some workers will receive layoff or furlough notices within days. Many of the 5,000 companies and small businesses from across the country that supply Newport News Shipbuilding with parts and equipment will be impacted, which will affect the firm’s productivity. And down the road at the Norfolk Naval Station, the threat of these cuts has already forced the Navy to cancel the deployment and delay the repair of certain aircraft carriers, and postpone building on additional vessels. If the cuts are implemented, about 90,000 Virginians who work for the Department of Defense will be forced to take unpaid leave from their jobs, creating a ripple effect on thousands of other jobs, businesses, and services throughout the Commonwealth – and not just in the defense industry.

The plan put forward by President and Congressional Democrats would avoid these cuts and allow time for both sides to work on a long-term, balanced solution to our deficit challenges. President Obama’s proposal resolves the sequester and reduces the deficit by over $4 trillion dollars in a balanced way- by cutting spending, finding savings in entitlement programs and asking the wealthiest to pay their fair share.

Naval Today Staff, February 27, 2013; Image: US Navy

Share this article

Follow Naval Today

One thought on “VIDEO: U.S. President Gives Speech on Impact of Sequester at NSS”

Comments are closed.

Events>

<< Jun 2016 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Sea-Air-Space 2018

Sea-Air-Space is now the largest maritime exposition in the U.S. and continues as an invaluable extension of the Navy League’s mission…

read more >

SMM 2016

The SMM in Hamburg is the world-leading fair of the maritime economy. It takes place every two years in Hamburg, because due to the long…

read more >

EURONAVAL 2016

Euronaval 2016 in Paris, is one of the leading international trade shows for maritime security, safety and naval defense…

read more >

Exponaval 2016

EXPONAVAL and TRANS-PORT have become established as one of the most important international naval defence and maritime fairs in Latin America…

read more >