VA could lose 200K jobs if Congress can’t cut budget deal

WTVR.com

Washington, D.C. (WTVR) – Virginia could lose more than 200,000 jobs if Congress can’t agree on a budget by the end of the year, according to a report from a defense industry group.

Virginia would be among the hardest hit states if the automatic spending cuts kick in on Jan. 2. The budget bill would cut total federal spending by more than $1 trillion over the next decade–potentially impacting more than 2 million jobs nation-wide.

The report, released Tuesday by George Mason University and commissioned by the Aerospace Industries Association, a group that lobbies for many companies in the defense industry, estimates that 1.09 million private-sector and federal jobs connected with the Department of Defense would be lost, and nearly as many nondefense jobs.

The report, titled “The Economic Impact of the Budget Control Act of 2011 on DOD and Non-DOD Agencies,” examines the ripple effect from the potential cuts…

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