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Economy: Budget Cuts / Defense Workers / Awad Interview #1039917

CBS Evening News for Saturday, Mar 02, 2013
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(Studio: Jim Axelrod) Report introduced.

(White House: Major Garrett) The start of the mandated budget cuts in this sequestration examined; details given about the sources of early cuts: education, defense, airport delays. [President OBAMA - says these cuts are not smart: compromise is needed and Congress can act.] How the defense sector cuts could lead to backlash against politicians discussed.

(Studio: Jim Axelrod) Report introduced.

(Clifton, New Jersey: Elaine Quijano) Impending furloughs for civilian defense workers examined; details given about one New Jersey business effected by the cuts; defense industry job statistics cited. [Small defense contractor ECSI's Arthur BARCHENKO††- comments on the uncertainty that is endangering his business: everyone suffers.]

(Studio: Jim Axelrod) Stock Market Report. Live in-studio interview held with Plimsoll Mark Capital chairman Jim Awad†† about the economy and the stock market. [AWAD - analyzes the budget situation: the economy is strong enough to withstand the budget cuts.]

Axelrod, Jim;
Garrett, Major;
Quijano, Elaine

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