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Is Obama to Blame for Lockheed’s 123,000 ‘Layoffs’?

Q: Is Lockheed Martin going to lay off 123,000 workers because of President Obama’s downsizing of the military?
A: No. Lockheed gave a “very rough” estimate of 10,000 potential layoffs (not 123,000) due to automatic spending cuts triggered by a 2011 bipartisan deficit-reduction bill. Obama and Congress are negotiating to avoid the cuts.