Federal budget cuts could mean end of Fleet Week

February 17, 2013 12:42:12 PM PST
A popular annual event which draws hundreds of thousands to San Francisco every year could be on the chopping block if Congress and the president cannot prevent automatic spending cuts from taking effect.

The U.S. Navy's Blue Angels could be grounded if the scheduled budget sequestration isn't resolved by its March 1 deadline. That could spell the end for San Francisco's annual Fleet Week celebration which the navy jets take part in.

The San Francisco Chronicle reports the "Parade of Ships" could also be in jeopardy.

Organizers of the annual event tell the newspaper that without those two centerpieces, Fleet Week may not happen.

The event draws about a million people to San Francisco every year. Its loss could have a major economic impact on the city.