Virginia business, legislative leaders wary of "financial cliff"

On Monday, Governor Robert F McDonnell (R), a closed-door meeting, legislative and business leaders, said the most vigilant toward Washington, Virginia take Ruleiguaner blow if Congress and the White House failed to avoid "fiscal cliff.

November 7, 2012, Virginia Governor Bob McDonnell to respond to questions from reporters. (Brown (Bob Brown) - AP) and MacDonald said, their concerns, make him particularly cautious government spending.

"This will be a cautious and conservative budgeting method, taking into account the uncertainty in Washington," he said.

Wheat curl up with Governor the Revenue Budget Advisory Committee, the Executive Advisory Board members and business leaders. His year with the Group, using their expertise as he tries to forecast revenues estimated recurrent expenditure plans of the new biennial budget for the Federal Reserve to adjust when he estimated.

However, gathered in Parliament Square more urgent this year, deep, came into effect on January the full range of military and domestic spending cuts.

"I would say that this year, because of the uncertainty in the unprecedented fiscal cliff, what is intend to occur or did not happen in Washington in the next 45 days, or a very deep sense of caution in the presence of the business community, in the Legislative Council members, "McDonald said. "Therefore, we will take this information and put these ideas into the budget proposal.

Jointly met with reporters gathering place, public meeting rules to allow in private after wheat, because business leaders shared their own revenue forecasts, recruitment plans and other confidential information, to help the country's estimated future income.

His proposed two-year, $ 8.5 billion U.S. dollars in the adjustment of the state budget approved this year, McDonald will use the information. Earlier this month, Jimmy asked the national agency responsible for the proposed budget will lay off 4% - another annual exercise, the governor said, to spend a greater significance this year.

If the leaders in Washington failed to reach a deficit reduction agreement, automatic spending cuts, expected to total $ 1.2 trillion more than nine years of the start to take effect on January 1.

Virginia will be particularly vulnerable to these cuts for the same reason, ride the recession relatively good state of many military installations and defense contractors. McDonald said the deep cuts in defense budget may take the country from 130,000 to 200,000 jobs.

Most concerned about is directly related to what happened in Washington, DC, "McDonald said.