Southern Bank
Shipyard cuts on the horizon
With the sequestration hammer set to fall in just two weeks Congress has given itself the next week off.
Congress members will be on recess as tens of thousands of jobs in Virginia alone hang in the balance.
The Navy’s planned budget cuts of $10.3 billion will hit hardest in the Commonwealth’s shipyards and involve the cancellation of 22 ship repairs and modernizations.
The affected ships are likely to include the USS Abraham Lincoln and the USS Theodore Roosevelt.
The USS Truman’s deployment was also cancelled last week because of budget cuts.
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