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.
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The major averages punctuated a solid week with a subdued Friday session. The S&P 500 shed 0.2% to narrow its weekly gain to 1.7%, while the Nasdaq Composite (+0.1%) displayed relative strength. The tech-heavy index finished the week in line with the benchmark average.
Market participants went into today's session expecting to hear some new insight from Fed Chair Janet Yellen, who delivered the keynote address at this year's Jackson Hole Symposium. Unfortunately, the ... More
More Market News
These companies won't soar like other plays in the sector, but they make for great income sources.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'