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Defense Cutbacks / Military Bases #228120

CBS Evening News for Tuesday, Apr 17, 1973
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(Studio) Pentagon announces details of military cutbacks. Says 40 installations to be cut down and 234 will have operations reduced. 42,800 jobs will be lost.
REPORTER: Walter Cronkite

(Newport, Rhode Island) Half of job losses to come from military cutbacks will occur in Rhode Island. [Newport Chamber of Commerce spokesperson David LEYS - says people shocked by severity of cutbacks.] [Petty ofr. Grandison WRIGHT - says likes New England and doesn't want to leave.] [Navy wife Mrs. Dan. RIKE - says Navy families used to moves.]
REPORTER: David Culhane

(Studio) When mll. base closes down, economy impact on area can be great. Effects not necessarily permanent, however.
REPORTER: Walter Cronkite

(Smyrna, Tennessee) When Sewart Air Force Base closed in 1971 it was felt it would mean econ. disaster for Smyrna, Tennessee. Town might have died but for action some local officials. Town bought former base, set up industrial park and revived area economy Smyrna now builds boats and its economy booming. [Mayor Sam RIDLEY - says closing of base hurt badly temporarily but town recovered.]

Cronkite, Walter;
Culhane, David;
Rabel, Ed

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