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New Jersey

Defense Breakdown Economic Impact Report
By Place of Performance Data -- Sorted by Product or Service

(FY 2011 Defense Contracts Baseline Data)

Includes Estimated 9% Annual Budget Reduction
And
Estimated 18% Sequestration Annual Budget Reduction
Starting in FY 2013

Go to www.forthecommondefense.org/reports to view detailed reports on New Jersey counties, cities, Congressional Districts, industries, small businesses and information on sources and methodology.

BACKGROUND ON THE DEFENSE BUDGET CUTS: 2013-2021 Our military is carrying an unfair burden of deficit cuts. To date our Defense budget has been hit with 50% of deficit reduction - yet it accounts for less than 20% of total federal spending.   Earlier Budget Cuts: the first 9% Defense Budget Reduction: Defense budgets for 2013-2021 were cut $487 billion -- an average 9% cut over 9 years. In 2012, President Obama limited U.S. military capability to fighting one "regional conflict" and one "holding action."   Sequestration Budget Cuts: the second 9% Defense Budget Reduction: "Sequestration," also required by law in 2011, mandates $500 billion more in 2013-2021 defense cuts -- an average total 18% cut. In 2011 President Obama said "I will veto any effort to get rid of those automatic spending cuts."   Alternative solutions have been proposed to maintain a strong defense, reduce our deficit and avoid tax increases: Elected officials have proposed that the President and Congress reduce mandatory entitlement spending and make cuts in the non-security programs in the Federal budget.   Be Prepared: These reports show how estimates of 2013 defense budget reductions of 9% and 18% could affect New Jersey with cuts in defense jobs and businesses. Ask your elected officials for ongoing updates on how these defense cuts will affect your community.

Data sources and more data available at www.governmentcontractswon.com, compiled from public data at www.fpds.gov

Created by the Center for Security Policy Defense Breakdown Economic Impact Report Generator (v.2.7.0-PoP) February 21, 2013 01:25:55 www.forthecommondefense.org