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CONTACT: Institute for Public Accuracy (IPA)
Sam Husseini, (202) 347-0020; or David Zupan, (541) 484-9167
The Myth of Military Job Creation
WASHINGTON - October 26 - oday, as the Super Committee meets, the House Armed Services Committee holds a hearing on “The Economic Effects of Defense Sequestration.”
HEIDI GARRETT-PELTIER, hpeltier at econs.umass.edu
Assistant research professor at the Political Economy Research Institute at the University of Massachusetts, Amherst and co-author of the report “The U.S. Employment Effects of Military and Domestic Spending Priorities: An Updated Analysis,” Garrett-Peltier said today: “My calculations show that the arms industry’s claims about increased unemployment are vastly exaggerated. A billion dollars spent on military production created about 11,000 jobs, compared to about 17,000 from clean energy, 19,000 from health care, and 29,000 from education.”
MIRIAM PEMBERTON, miriam at ips-dc.org
Research fellow at the Institute for Policy Studies, Pemberton said today: “This committee needs to get back to the task of figuring out how much we need to spend to keep our country safe, not pushing unlimited military spending as a jobs program.”