Defense cuts threatening thousands of jobs
Impact being felt in Virginia
- Duration 4:14
- Date Oct 29, 2012
Impact being felt in Virginia
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A storm of a much different sort is also setting its -- on our country the mandatory budget cuts that threatened to -- the united states military.
He is crack.
Our navy is smaller now than any time since 1970 well governor we also have your horses and bailouts.
The nature of our -- is change.
President Obama's sharp retort.
Governor Romney's critique of spending cuts in the military during last week's debate we have these things called aircraft carriers -- planes land on them where.
These chips that go underwater nuclear submarines.
This cutting exchange in the -- presidential debate attracted most of the attention but the real threat to the military budget is the controversial bill.
Which congress passed and the president signed into law last year to confront the nation's looming.
Sixteen trillion dollar -- The law requires automatic across the board cuts on January 2 2013.
And -- -- billions from the defense budget.
But in battleground states like Virginia where as many as one in four adults work for defense contractors which build enormous submarines like the Minnesota which is about to be -- and these defense cuts could mean as many as 200000.
It was designed to be so bad that we would never get to this point.
Mike -- is CEO for Huntington Ingalls industries -- 37000.
Employees in Virginia Mississippi Louisiana and California.
It is the largest US naval ship built.
All of the usual suspects are saying all of the things that they were.
Predicted to set.
It is not the way the nation should be going about.
Deciding how to allocate its recent.
Congressman Randy Forbes.
For the fourth congressional district in Virginia.
That's going to be.
Devastating to the economy of Virginia it's gonna be dead -- to the economy the country but more importantly.
It's gonna put us in the situation we believe we're dismantling the greatest military the world's ever -- According to the International Monetary Fund -- mandatory cuts go into effect they'll have a devastating impact on the economy.
The loss of jobs -- -- the ripple effect across the nation could take us into another steep recession.
-- probably lose as many as 200000 jobs in Virginia because of the -- on this cuts.
Across the country to be about one point five to two point one million we have sixteen trillion dollar deficit.
That's looming over our country.
We have to cut something why not the defense.
You know when he said that we shouldn't put things on the table to cut on defense we shouldn't do it in this arbitrary fashion that we're doing but in the debate the president said.
Is not gonna happen.
The president sign that the law I didn't bid for governor Romney said he would have supported it but the president -- -- in the law there is no way the president.
Can't just ignore the law.
Finger pointing aside there's no doubt the impact here in Virginia she does basically is in the news this would really put the -- Remember in the devastated -- media.
They get in and around here is that very much -- really -- -- a guy name of -- -- -- last.
We do depend on you when you shipyard and we need -- job.
Ticking time bomb that's about to go off in January 2013.
How do you explain that to people -- -- keep people calm.
I'm a glass is half full kind of guy I believe that -- we will work our way through this.
It is the law the land but I also I'm optimistic to believe that.
This is all going to push people into a place where they're gonna have to come together and figure out what the real plan.
It is he really optimistic.
-- is optimistic he he thinks he hopes that.
People come to their senses and put this thing together before.
This time bomb does go off -- these cuts are made about the workers that you spoke of blue collar by the concerned you know this is the only game in town the shipyards the only place that's hiring.
And you also have to remember that.
The this company spends 400 million dollars a year in contractors and construction all these different things that support.
The shipbuilding industry it's here it's really an important targets also battleground state -- -- -- some of them admitted to -- -- in the creek banks.
Some Republicans are calling --