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Sequestration ax looms over redondo beach, report suggests - SAE Hose Fitting Manufacturer by e55he swrzsnb
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Sequestration ax looms over redondo beach, report suggests - SAE Hose Fitting Manufacturer by E55HE SWRZSNB
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| Article Posted: 07/16/2013 |
| Article Views: 74 |
| Articles Written: 2033 - MORE ARTICLES FROM THIS AUTHOR |
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Sequestration ax looms over redondo beach, report suggests - SAE Hose Fitting Manufacturer |
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Business,Business News,Business Opportunities
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Members of Congress and business lobbyists have been soundingalarms about sequestration looming Pentagon budget cuts that could exceed $500 billion over10 years. They could begin in January if lawmakers don t deal with theso-called fiscal cliff, including the fallout of the 2011 Budget Control Act. But what does that mean for Redondo Beach? Although military jobs and pay would not be affected, the cutscould trickle down to 10 local businesses and individuals that didbusiness with the Department of Defense last year to the tune of$419 million. According to the Center for Defense Policy , which last week released updated data from several federalsources, these Redondo Beach companies and individuals did businesswith the Pentagon in 2011 (with the value of contracts noted): Bonnie Faye Gibson-Brydon (one contract for $30,000) for"translation and interpretation services" Marcus Goodloe (one contract for $5,750) for "all othermiscellaneous schools and instruction" Production Services America (10 contracts for a total of $133,684)for "ball and roller bearing manufacturing" Redondo Optics (four contracts for a total of $733,455) for "research anddevelopment in the physical, engineering and life sciences (exceptbiotechnology)" Sierra Monolithics Inc. (six contracts for a total of $211,407) for"instrument manufacturing for measuring and testing electricity andelectrical signals" Structural Mechanics Corp.
(one contract for $121,000) for"engineering services" F1 Service Company (one contract for $6,750) for "pump and pumpingequipment manufacturing" Mician Inc. (one contract for $21,971) for "software publishers" Northrop Grumman (45 contracts to different divisions for a total of $419,761,861)for "research and development in the physical, engineering and lifesciences (except biotechnology)" and other projects. Daniel Plaster (one contract for $35,100) for "fine arts schools" Additionally, TRW Inc. paid the government $2,032,212 for threecontracts on "guided missile and space vehicle manufacturing" and"fluid power valve and hose fitting manufacturing." Pentagon cuts of 18 percent over 10 years are forecast under current plans.
An analysis in late August by Todd Harrison of the Center for Strategic andBudgetary Assessments (see attached PDF) said cuts would not affectfunding already obligated in contracts, but would lead to reduction in new contract awards, contract extensions, options,etc. and likely force DoD to renegotiate contracts to buy insmaller quantities and cause unit costs to rise. Who would decide on the cuts? The Congressional Budget Office says : The [Obama] administration s Office of Management and Budgethas sole authority to determine whether a sequestration is requiredand, if so, the proportional allocations of any necessary cuts. Sequestration is the word used to describe automatic cuts mandatedby the August 2011 Budget Control Act , which came after the national debt ceiling debate and failure ofthe congressional super committee to reach a deal on deficitreduction.
Nobody knows where the budget ax would swing and even how hard theSouth Bay and its large defense industry presence would be hit. But in mid-June, Rep. J. Randy Forbes of Virginia was quoted by U-T San Diego as telling a University of San Diego audience that this issomething that ought to be in every congressional debate, as we gointo the November election.
In early August, Frank Kendall, a Defense Departmentundersecretary, urged a San Diego Convention Center gathering tokeep reaching out to local leaders in Congress and letting themknow the job cuts that could come to their districts as a result ofsequestration, according to the San Diego Daily Transcript . That seems to be getting their attention more than anything elseright now, Kendall was quoted as saying. On Tuesday, the right-wing think tank Center for Security Policy posted congressional district reports to help estimate the potential local economic impacts of the cutsto the nation s defense budget under sequestration. Reports citing 2011 data showing the effect of 18 percent sequestration cuts for allU.S.
states and territories, counties and cities. The center, whose projects have criticized as biased, projectedthat California would loses at least 141,130 jobs undersequestration, including 15,341 civilian Defense Department jobsand 125,789 private-sector jobs. Citing the Aerospace Industries Association, the Center forSecurity Policy said: Four out of five likely voters in criticalbattleground states want our leaders in Washington to find analternative to sequestration budget cuts before the Novemberelections take place, according to a Harris Interactive onlinepoll. In 2007, a writer for Watching the Watchers said a column in a forum established by the Center forSecurity called on President Bush to declare himself President for Life and remove all Arabs from the Middle East sohe can repopulate the country with Americans. But figures used in the center s sequestration report appear to beunbiased.
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