« Russia Today interviews James Goodale [Purp] | Main | McClatchy, CNN Join Boycott of Holder's Spin Session »
May 30, 2013

Shocking! Sequester Wasn't The End Of The World!

Unpossible! If the government spends a tiny bit less we were told there'd be riots and DC/NoVa residents would have to resort to cannibalism. Apparently not.

In the months since the automatic federal spending cuts known as the sequester took effect, the Washington area has added 40,000 jobs. Income-tax receipts have surged in Virginia, beating expectations. Few government contractors have laid off workers.

...

“The surprise is that the economy is as good as it is,” said Stephen S. Fuller, the economist who directs the Center for Regional Analysis at George Mason University. “We’ve done better than I expected.”

In January, Fuller predicted that the sequester, if enacted, would be an “end-of-the-world kind of hit” to the regional economy. He wrote an analysis of the cuts in March concluding they would kill more than 325,000 jobs in Virginia, the District and Maryland combined.

That estimate included both direct and indirect effects — that is, layoffs not just among federal workers and contractors, but also the workers, such as waiters or car salespeople, whose jobs depend on spending from federal paychecks.

So what's the lesson to be learned? Cut MOAR!

I can't say I'm surprised that the economic impact on the DC area hasn't been greater but I am disappointed. I think it's very unhealthy for the capital to be protected from the economic realities of the country as a whole.


digg this
posted by DrewM. at 11:41 AM

| Access Comments




Recent Comments
Gaelic Girl's Irish Democracy: "who sings that one? Posted by: Soothsayer's Untru ..."

Jim[/i][/b][/s][/u]: "[I]..Truckers not welcome at Buc-ees. Buc-ees ..."

Mad Dog Mattis: "720 Anyone need a rage stroke? Gen Mattis says ..."

Way, Way Downriver [/i] [/b]: "And so,  ever since Midway,  Plans A B a ..."

chique l'African Viking Queen of Greenland (It's not over folks!): "Looks like the ONT Cob forgot to set their alarm. ..."

Catch Thirty-Thr33: "702 No shit. Hubs put the game on tonight and they ..."

[/i][/s][/b]blaster: "Anyone need a rage stroke? Gen Mattis says we s ..."

Bete: "Looks like the ONT Cob forgot to set their alarm. ..."

james: "Someone should camp out in front of Cuomo's place ..."

Soothsayer's Untrue But Accurate Tales: " I'm leaving on a jet plane don't know when ..."

Soothsayer's Untrue But Accurate Tales: " Please don't go Don't go---oooooooo-oh-oh ..."

chique l'African Viking Queen of Greenland (It's not over folks!): "Hi Jewells! :) *waves* ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64