Politics Could Kill 1 Million Jobs By 2014

The new normal in American politics seems to be the unending fiscal crisis. First the debt ceiling was threatening job growth, then it was the fiscal cliff, and now it's sequestration. On March 1, $1.2 trillion in spending will be cut automatically over 10 years -- from across the federal government, in both defense and non-defense -- if Congress doesn't agree to a deal to reduce $85 billion from the budget.

Congress came up with $1.2 trillion in cuts as a political compromise for the debt ceiling crisis. No matter how this year's Beltway squabbling is resolved, it could have real consequences. The only question for workers is -- will it translate into job losses? And which sectors would be hurt most?