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The Boston Globe

Politics

Spending cuts to cost state 60,000 jobs, report says

WASHINGTON -- Massachusetts will lose more than 60,000 jobs, much of it in the defense industry, and $127 million in federal research funding, harming a critical sector of the state economy, if Congress allows across-the-board spending cuts to go into effect in March, according to a report released Friday by Representative Edward Markey of Malden.

The automatic cuts, known in Beltway parlance as “sequestration,” were scheduled to take place in January under a 2011 budget deal to raise the nation’s debt limit, but the crisis was temporarily averted when Congress struck a last-minute New Year’s Eve bargain.

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