By Walter Hickey
Business Insider
Feb. 5, 2013
The Bipartisan Policy Center — an independent group with a long track record of accurate prognostication — has confirmed that they expect massive job losses across the board if Congress is unable to avert the sequester.
The prediction isn't without immediate evidence, either. The contraction in GDP last week was largely attributed to decrease in government funding allocated to manufacturing in the defense sector, which has seen a substantial cut as a result of the Budget Control Act of 2011 mandatory spending caps and the gradual end of overseas conflicts.
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Economic Policy Project