Rapid Fire July 18, 2012: Stuck in a Rut

• The Aerospace Industries Association (AIA) outdid its previous report on the effect of sequestration on jobs with a new one [PDF] that predicts even uglier outcomes for the whole US economy. The scary numbers are conveniently laid out by state for maximum political impact. An interesting new twist to try and broaden opposition to sequestration beyond defense: “Non-DOD cutbacks would have a much greater direct impact on federal employment than DOD budget reductions due to the respective differences in procurement and payroll distributions.” At this rate a 3rd report threatening a loss of 3 million jobs should be made available just in time for the lame duck session in November.

• That very same topic is on the agenda of the House Armed Services Committee with a hearing today where the bosses of Lockheed Martin, EADS NA, Pratt and Whitney, and Williams-Pyro (to bring a small business perspective) testify.

• An interesting question is what would happen to contracts funded between the start of FY13 (i.e. Oct. 1, 2012) and the beginning of sequestration (Jan. 2013). According to Press Secretary George Little: