Virgin Islands
Defense Breakdown Economic Impact Report
By Contractor Location Data -- Sorted by Veteran Ownership
(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 Virgin Islands 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 Virgin Islands with cuts in defense jobs and businesses. Ask your elected officials for ongoing updates on how these defense cuts will affect your community.
| |
State | Contract Year | Veteran Ownership | Contract Count | $ Amount | Reduction by 9.0% | Reduction by 18.0% | Virgin Islands | 2011 | -- | 86 | $33,964,761 | -$3,056,829 | -$6,113,657 |
Virgin Islands | 2011 | Other Veteran | 8 | $19,521 | -$1,757 | -$3,514 |
Virgin Islands | 2011 | Service-Disabled Veteran | 1 | -$5,315 | $478 | $957 |
TOTAL | | | 95 | $33,978,967 | -$3,058,108 | -$6,116,214 |
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-CL) February 21, 2013 00:13:43 www.forthecommondefense.org