'Your papers, please' must never be heard in America
Independent voices from the TWT Communities
Defense contractors already are preparing for the layoffs and plant closures that will occur if Congress fails to reach a deal on the federal deficit this year, triggering $600 billion in automatic Pentagon spending cuts.
Kim Holmes' recent opinion article wisely points out how unworkable further cuts to defense spending - beyond the $350 billion already slated - really would be ("Taking defense hostage," Politics, Thursday).
"It's stupid, and it shouldn't happen, but no one knows how to stop it," said Mr. Downey.
The looming threat of the automatic cuts is causing defense and aerospace companies to make legally required stock market disclosures about possible lost earnings and to consider notifications to workers and suppliers about layoffs and contract cancelations, said AIA Vice President Fred Downey.