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The Military Spending Cut Scare

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"'While our area would be affected by any change in federal spending, the overall impact would be minimal given that defense spending constitutes a small percentage of our overall economy,' Chris Engel, Charlottesville's economic development director said by email.

"Albemarle County spokeswoman Lee Catlin said recent reaffirmations of the county's AAA bond rating in spite of potential defense-related reductions is an indicator of confidence and stability in the local economy.

"'However, we are home to several major federal installations and associated defense contractors who are valued and important partners in our economy, so we are concerned about funding uncertainty,' Catlin said by email.

"And if the spending cuts do come to pass, Engel expressed confidence that the region's economy would persevere. 'I think our business community has proven itself to be very adaptable in the past and this could be another instance where that trait will be needed,' Engel said."

If these last paragraphs had come first, this would not have been a bad article at all.

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http://davidswanson.org
David Swanson is the author of "When the World Outlawed War," "War Is A Lie" and "Daybreak: Undoing the Imperial Presidency and Forming a More Perfect Union." He blogs at http://davidswanson.org and http://warisacrime.org and works for the online (more...)
 

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