John Cornyn: “Responding to the question, I don't have an exact number, but I do know that by one estimate as many as 1 million…”

“Responding to the question, I don't have an exact number, but I do know that by one estimate as many as 1 million private sector jobs would be affected if this sequester goes into effect as currently written. We made it clear under the leadership of Senator McCain, ranking member of the Armed Services Committee, that we are willing to work with our colleagues to try to change the structure of this sequester. We all believe Federal spending needs to be cut. But this is something that would, as the Republican leader said and Secretary Panetta admitted, would hollow out our national security and would be disastrous. Why the President won't listen to his own Secretary of Defense is beyond me. Mr. McCONNELL. So I say to the Senator from Texas, it is not just the impact on the military, which is devastating enough, but on our economy as well, correct?”