Survey: Sequester worries force military families to cut back

Survey: Sequester worries force military families to cut back
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Anxiety over sequestration is causing military families to scale back their plans this summer, according to a new survey.

The First Command Financial Behaviors Index, conducted by Sentient Decision Science, found 47 percent of middle-class military families are intending to spend fewer dollars this year on summer vacations.

This is due to spending cuts that are expected to take effect at the beginning of October, which will both affect the Pentagon and domestic programs.

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Twenty-two percent said they plan to spend more money this year.

Military families are affected by the approaching sequestration more than civilian families, the survey said.

About 30 percent of military families, for example, are planning to take shorter vacations compared to 12 percent of civilian families. Twenty-one percent of military families are cooking at home instead of eating out compared to 6 percent of civilian families.

Seventy percent of military families said they feel anxious about defense spending cuts and more than half are concerned about their job security in the near future, the survey found.

Many lawmakers and outside analysts believe a deal to relieve those cuts will inevitably be reached this fall, but so far, Republicans have refused to negotiate with Democrats over the limits.

The survey polled 530 people between the ages of 25 and 70 with annual household incomes of at least $50,000, with a 4.3 percentage-point margin of error.