Aerospace Industries Association President and CEO Marion C. Blakey calls on Congress and President Obama to use the opportunity of extending the Continuing Resolution to reverse sequestration budget cuts as quickly as possible.
Arlington, Va. - Sequestration cuts were never supposed to happen but were intended to hold the discretionary budget as a hostage to ensure a balanced solution to our nation’s fiscal challenges. Well, they’ve shot the hostage and the American people will take the hit. As March begins, sequestration budget cuts that former Defense Secretary Panetta has likened to “shooting ourselves in the head” will go forward, accelerating the real – though hopefully not fatal – damage to our economy and national security.
Despite our extreme disappointment that sequestration was not averted, we are by no means giving up the fight. On March 27, the Continuing Resolution for funding federal agencies through the current fiscal year will expire. This is the next major opportunity for Congress and President Obama to halt the crisis that our industry has highlighted for nearly two years. We urge our elected leaders to use this period to put a stop to the damage that sequestration is doing to our country.
When the Joint Chiefs of Staff say sequestration will have a swift and severe impact on military readiness, when the Secretary of Transportation says it will result in airport delays for millions of travelers and when the Federal Reserve Chairman warns that it could place a “significant” burden on the economy, our leaders should listen and resolve to act. There is still time to obtain a balanced bipartisan solution to our nation’s debt and deficit problem before the full effects of these drastic budget cuts are felt.