Although members of Congress approved a plan to avert the fiscal cliff, the president of the Aerospace Industries Association is worried that the deal does not create a long term solution to avoid sequestration.
Marion Blakely, who’s also the CEO of the AIA, released a statement urging Congress to solve sequestration, which could be devastating to the economy.
“More than 2 million Americans across all sectors of the economy will lose their jobs starting in 57 days if our political leaders fail to fix the self-inflicted wound of sequestration and the dangers it poses to our warfighters and national security,” she says in the statement.
Part of the fiscal cliff deal included delaying implementation of cuts for federal agencies across the board for another two months. However, the delay has not struck confidence into markets.
“Sequestration is a slow motion catastrophe for our military forces, our space program, and virtually every critical function of our government from air traffic control and border security to food inspection and more,” Blakely says.