10 ways the sequester is already hurting
The cuts are mostly small and wide after a short-term funding bill passed last month stopped a government crisis.
Part of the reason is because Congress stepped in with a short-term funding bill that eased some of the pressure. Food inspectors, for example, got money to stay on the job. And the Department of Defense is still moving forward with construction projects.
In fact, economists from Goldman Sachs (GS) think the sequester will hurt the economy's growth rate by just 0.6 percentage point in the government's fiscal year, which ends Sept. 30. That's not ideal, with the recovery still sputtering -- GDP grew at a meager 2.2% in 2012 -- but it's really not all that devastating.
Still, communities across the country have been impacted by the sequester already. Jobs have been lost, lives have been altered. But much of the impact seems to be on a localized level, and not the national scale some lawmakers had forecast. In fact, the biggest impact nationally seems to be the ongoing run of jokes about White House tours being canceled.
Click here for 10 ways the sequester is already hitting America.
Who signed it in to law??Who rejected the offer to control the cuts? Cutting an increase in spending does not mean a cut. They didn't even address the pork, maybe so one should have a responsibility to review and cut all non essential spending!!!!
Booooo whooo congress, do what you were elected to do
I have an idea. What don't we drug test those who want a Federal handout? What to trim some pork? There you go. How about cutting off the 10 million in the counrty illegally, and whom are eating up (literally) the healthcare and welfare system for those whom have paid their whole lives to have this privledge. The policical theatre is boring and out-of-touch with the realities of our "small" lives.
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[BRIEFING.COM] The stock market welcomed the new trading week with a mixed session that saw relative strength among large-cap stocks, while high-beta names underperformed. The Dow Jones Industrial Average (+0.3%) and S&P 500 (-0.1%) finished near their flat lines, while the Nasdaq Composite and Russell 2000 both lost 1.1%.
Equities began the day on a cautious note amid continued concerns regarding the strength of the global economy. Over the weekend, China reported its first decline ... More
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Stocks drift lower and bonds are hit as investors await the Fed. Prepare for higher volatility this week.
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