The Pentagon will see massive cuts over the next decade to adjust the ever-expanding US deficit. A new study reveals, however, that the immediate impact of those adjustments could cost 2 million Americans their jobs in the next year alone.

The Aerospace Industries Association released the findings of a report on Tuesday that suggest that the automatic cuts in federal spending slated to kick in on January 2 have the potential of being far more damaging than imagined.

The author of the report, Dr. Stephen Fuller of George Mason University and Chmura Economics and Analytics, suggests that while the Obama administration-endorsed sequestration goes about as scheduled, more than 2 million Americans will see their jobs eradicated in just 2013.

“If they are allowed to occur as currently scheduled, the long-term consequences will permanently alter the course of the U.S. economy’s performance, changing its competitive position in the global economy,” the report warns.

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Posted by the NON-Conformist