President’s economic advisor details how sequestration could impact area

Posted at 9:07 PM, Feb 25, 2013
and last updated 2013-02-25 21:07:23-05

The President trotted out his economic advisor to get specific and scary about what sequestration will do here in Hampton Roads. He talked to NewsChannel 3’s Barbara Ciara.

“If the sequester goes into effect, we`ll see a headwind.  These cuts mean reduced economic activity, we`re talking 90,000 DOD and military furloughed.  That means fewer work days and less money.  It`s unfair to them, and it affects local economies.  If people have less to spend, that means less economic activity for local businesses and fewer jobs.  At the end of the day, it is an economic head wind right when our economy is set to take off.  We need to move our economy forward," says Brian Deese, National Economic Council.