Industry--along with their bought and paid for politicians--have failed at a budget sequestration fear-mongering campaign staged on Capital Hill.
Led by the Republican chairman of the House Armed Services Committee, Buck McKeon, and helped by notables such as former U.S. Defense Secretary VP Cheney and current U.S. Defense Secretary of Defense Panetta, along with some industry leaders, a Congressional hearing didn't seem to produce the wanted fear over the coming budget sequestration.
It was put forth that pink-slips would have to be sent out to defense workers 60 days before the implementation of budget sequestration. According to the fear-mongers this would be right before the next election (and we in Congress better figure out a way to protect our phoney-baloney jobs).
No one was able to back up this claim with any evidence.
It seems the only evidence offered were over-used terms such as "disaster" and "catastrophe". Hard to believe, when so many high-dollar and useless-to-the-threat weapons systems are being built and fielded. Defense jobs are important. But not if they produce and sustain uninspired, gold-plated junk.
No one but Congress created the budget sequestration mess. It will be interesting to see how many in Congress are voted out in the November election because of it.
Entitlements and the welfare-state are where the Iron-Crosses grow for Congress.