Thursday, December 30, 2004

How the Iraq War's Costing Jobs at Home

As the Pentagon scrambles to come up with the money they need to pay for the Iraq War, defense industries in the states are bracing for losses. The Air Force and Navy are both planning deep cuts. Yesterday, I told you how the F-22 Raptor program faced cuts of 117 planes. The impact is triclking down to companies that build parts for the planes, too. Pratt & Whitney stands to lose $20 million for every plane canceled. And the Navy has to cut costs, too. They're looking at cutting their submarine fleet from 55 to 37 boats. That likely means deep cuts to it's submarine building program -- currently producing only one boat per year. Sen Christopher Dodd (D-CT) says failing to boost that level to two submarines a year could cause "great harm to our military capabilities and national industrial base." (Boston Globe)

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