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September 17, 2014

Minnesota could lose 4,000 defense jobs

If Congress fails to halt automatic spending cuts later this year as they attempt to pull the nation back from the so-called fiscal cliff, the state could lose more than 4,000 defense-related jobs and nearly $350 million in revenue for each of the next nine years, the Star Tribune reports.

The fiscal cliff, or sequestration – automatic across the board spending cuts to both defense and nondefense government spending, which grew out of a fight last year over the debt-ceiling – could hit Pentagon civilian workers first, NPR reports.

The Cleveland Plain Dealer puts “fiscal cliff” and “sequestration” in plain language as part of a presidential debates glossary.