Chart of the Day
Posted at 9:45 a.m. on Feb. 27, 2013
— Wells Fargo maps the contribution of federal dollars to each state as a percentage of that state’s GDP, combining that data with exposure to defense and nondefense industries to show those states that stand to lose the most from the looming sequestration cuts.
“The impending defense cuts will likely have a greater immediate impact effect on state economies due to the fact that these cuts are concentrated in a specific industry, which itself is concentrated in a handful of areas, as opposed to the nondefense cuts that are spread across a wider number of industries and geographic areas.”
“The regional impact of defense cuts is primarily concentrated in the Pacific West and the areas in and around Washington, D.C. Among the states most likely to be impacted is Hawaii, home to the U.S. Navy’s Pacific Fleet.”