For all the rhetorical overtures President Obama has made to the plight of the unemployed and underemployed, it doesn’t seem like he’s all that concerned about making sure Americans who are lucky enough to have jobs actually get to keep them.
Looming large over Obama’s re-election efforts are the automatic spending cuts, totalling $110 billion next year, scheduled to go into effect in January and stemming from Congress’ inability to come up with a way to rein in the nation’s debt.
Many folks stand to lose their jobs because of these cuts — but they shouldn’t expect much sympathy from the President, who is far more concerned about his own job than theirs.
Because of the potential $50 billion cut to defense spending inherent here, as many as 1 million jobs in that sector could be lost, according to Aerospace Industries Association, a Washington-based defense lobbying firm.
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