Joe Yurkin: Cutting Defense Budget Could Weaken Working Class, Families Anticipate Job Loss
As American industries are revitalizing the U.S. economy, recent reports that Congress is in talks of sequestration have many suggesting that budget cuts could weaken working class. As an advocate of American defense and the working class, Joe Yurkin
Online, September 5, 2012 (Newswire.com) - Although economic news remains to focus on unemployment rates throughout the country, financial analysts have noted that since the end of The Great Recession in 2009, more than four million jobs have been created improving the unemployment rate by 1.8 percent in a few short years. A recent opinion column from The Baltimore Sun assesses these statistics, but also suggests that the recovering economy could face a major threat if Congress decides to undergo sequestration-cutting defense budget and millions of jobs along with it. As a supporter of American business, Joe Yurkin weighs in on the debate with hopes that Congress will reach new budgetary agreement before the planned sequestration occurs on Jan. 1, 2013.
As Owner and President of Pacific-Northwestern Energy, Joe Yurkin knows how important it is for American businesses to create jobs to support the middle class. Through his work, Joe Yurkin has also come to value national security, including energy independence. However, as the article suggests, the planned sequestration includes significant cuts to America's defense industry, which includes the aerospace manufacturing industry. The article states, "Aerospace is one of the few remaining manufacturing industries in which America is number one, and it's the largest net exporter of any industry - contributing more than $40B to our trade balance."
In response to these statistics, Joe Yurkin notes that cutting the defense budget would be a major mistake. The article also notes that the aerospace industry supports 3.5 million jobs; slashing the defense budget would subsequently strip valued employees of their jobs that took years of training to develop. While these cuts would have an impact on middle class families, the article's author also notes that in a larger perspective, "An estimated $86B would be removed from the economy from defense cuts alone, reducing economic growth by 25 percent."
Apart from economic security, Joe Yurkin also indicates that cutting the defense budget could also lead to a decline in national security. According to the article, Secretary of Defense Leon Panetta says the sequestration cuts "would 'hollow out' our armed forces by canceling needed modernization of air, land and sea equipment and drastically reducing research and development of new technologies." In response, Joe Yurkin urges Americans to raise awareness of this potential in hopes that Congress will come to a new solution by 2013. Yurkin concludes, "Weakening the defense budget would be a mistake. Let's not have another event like 9/11."
ABOUT:
Joe Yurkin is the Owner and President of Pacific-Northwestern Energy. An expert in the oil and natural gas industry, Joe Yurkin also has experience as a mentor for athletes and business professionals. Through his coaching, both professionals and athletes better develop their talents and hone their industry-specific skills. Joe Yurkin has, over the course of his career, worked on a wide range of business endeavors, including his experience as Owner and President of United States Livestock, LLC, based in Florida.