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Aerospace Industries Association CEO Marion Blakey says Defense Department budget cuts will lead to mass layoffs.
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I'll thank you very much while the Defense Department.
As facing across the board budget cuts of up to 18%.
Or 55 billion for fiscal 2013 it would be the deepest spending cuts for the industry.
And sixty years Marion Blakey is -- president CEO of Aerospace Industries Association parent does this mean.
For the defense sector for all of us stocks are -- own what does this mean your opinion.
Well it means massive layoffs if sequestration.
Goes through it the be giving of this coming year.
It is and and almost cut in terms of all right -- procurement.
Our ability to generate the kind of technology that frankly has fueled not only national security and supported that.
But it's also brought so much technology.
Into the commercial marketplace all of this is grinding to a halt if this goes -- Okay circuits of the company's your member companies and -- you know defence names Lockheed Martin Boeing Northrop Grumman.
Breaking on I mean you think there's going to be job cuts that's what they're telling you -- get a -- job -- these -- at these companies.
You absolutely cannot make cuts of the size that I envisioned.
In the budget control act that Islam now.
Without having massive layoffs.
All we understand that have been key thing is that I lawmakers understand that because there is a total of one million.
US jobs that are at risk if this goes -- -- the -- of a million jobs is Dennis.
It is devastating we have the president talking about jobs just this morning and the fact that they're needed to be and it has a penny more government jobs you and I are talking about.
The private sector -- what -- -- his company's deal mean because.
If these cuts do go through do we know specifically where those cuts will be do we know type of aircraft that we -- it's a ship.
Procurement plan what do we know.
You're hitting on one of the most difficult aspects of this because snow.
We don't know which programs.
The thing is that the lower class these cuts be made across the board which is some mindless way to go about it you can't cut a third of a ship.
And yet that really -- what so clouded terms the way that allows approaching it.
But in fact we actually do not know what the Pentagon will do and therefore.
State and federal while -- -- that we give notice to employees well in advance.
And you almost have to approach this across the board because you don't know exactly which plants which facilities and what.
Our Mary -- -- you -- I'm sorry Ed did you know this is gonna affect on the FAA is is gonna affect mass an agency that has already been devastated by.
Lack of government funding do you know what what it means for those agencies.
Absolutely.
It cuts across the board across the domestic accounts and FAA is going to be faced with laying off controllers.
Who shutting down tower -- think about what that means cod national airspace system.
Nassau -- already trying to get astronauts back and forth to the International Space Station at paying the Russians sixty million dollars to see -- What we do when this a massive cut.
To Nassau the -- of next year house are gonna work.
Marianne thank you very much it's fortunately -- to cover but thank you for being here main Blakey in the aerospace.
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