Saturday, March 3, 2012

Panetta: DOD cuts could add 1 percent jobless rate

ABOARD A U.S. MILITARY AIRCRAFT (AP) — Defense Secretary Leon Panetta is warning Congress that if lawmakers fail to agree on debt-ceiling talks and trigger $1 trillion in Pentagon budget cuts, they could add 1 percent to the nation's jobless rate.

Pentagon press secretary George Little says Panetta has relayed those numbers to lawmakers in person and in calls this week.

Lilttle says the defense industrial base provides 3.8 million …

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