DoD’s job and contracting cuts scrutinized

Virtually everyone agrees that reducing joblessness is key to the recovery of Virginia’s economy and housing markets. Defense Secretary Robert Gates’s recently announced reductions to the Pentagon’s budget by dismantling the U.S. Joint Forces Command (JFCOM) in Hampton Roads and cutting spending on defense contracts by 10% annually for the next three years. These spending cuts would cost Virginia thousands of jobs (10,000 in Hampton Roads alone, by some estimates), jeopardizing the Commonwealth’s economic recovery.

So it may come as welcome news to some that the Commonwealth’s political leaders are undertaking efforts on several fronts to address this potential economic blow.

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One Response to DoD’s job and contracting cuts scrutinized

  1. As a former DoD contractor, I know that the work is always susceptible to cuts and losses at moment’s notice. Hopefully the VA market will be able to continue on its way to long-term recovery in spite of these job losses.

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