Study projects automatic cuts could cost US 1 million jobs

The Hill ^ | - 06/07/12 10:41 AM ET | Erik Wasson

[Uncle Chip]

Automatic across-the-board cuts to the budget set for Jan. 2 will cost the United States 1 million jobs, according to a new study released Thursday by the Bipartisan Policy Center (BPC).

If it does, then the loss of 1 million jobs in the public sector will then create 2 million jobs in the private sector.

[from occupied ga]

"This is a reverse stimulus plan. That's what we are talking about here," BPC task force member and former Agriculture Secretary Dan Glickman said.

Considering that the "stimulus" plan provided unemployment an increased debt, then a reverse is exactly what's needed

[BfloGuy]

This is a foolish argument. If the Defense budget is cut, then it is the impact on national defense that matters -- not the number of people employed. Jobs created by government spending are still a drain on the private economy stunting its growth -- even if you do approve of the product.

[JoanVarga]

There’s key jobs, engineering and design and upgrades that will be affected by this. Troops, too. Just ask your neighbors who work in defense dept adjuncts.

Never assume that our DoD elites are on our side. They’re lining up to be the leaders of the Civilian National Security Force when the SHTF. And it will.

This is not a good scenario. And if you think “sequestration” will not revert back to its original meaning of seizure of property, you haven’t been paying attention to Chairman Barry’s land grabs. “Imminent Domain” on the fast-track. There’s already plans in place to replace your 401k dollars with T-Bonds.

/tinfoil hat (but, still . . .)