Ms. magazine  -- more than a magazine a movement

SIGN UP FOR MS. DIGEST, JOBS, NEWS AND ALERTS

FEMINIST WIRE NEWSBRIEFS

ABOUT
SEE CURRENT ISSUE
SHOP MS. STORE
MS. IN THE CLASSROOM
FEMINIST DAILY WIRE
FEMINIST RESOURCES
PRESS
JOBS AT MS.
READ BACK ISSUES
CONTACT
RSS (XML)
 
feminist wire | daily newsbriefs

July-26-13

Cancellation of Sequestration Would Lead to 1.6 Million New Jobs

According to a new analysis released by The Congressional Budget Office, a full cancellation of the sequester by August 1 would allow for the creation of up to 1.6 million jobs. It has been predicted that sequestration will lead to the loss of up to 700,000 jobs as well.

Current predictions indicate that spending cuts are more harmful to the American economy than they are helpful. Moving forward, however, bipartisan action is unlikely. President Obama supports "a combination of targeted spending cuts and tax increases to further reduce budget deficits" rather than sequestration. Currently, the deficit and national unemployment rates stand at $16.9 trillion and 7.6.

The sequester has been costly, leading to considerable cuts on social programs such as Head Start and Section 8 housing vouchers, as well as the International Monetary Fund's lowering of the United States' GDP growth projections. If the spending cuts were cancelled, however, American economic activity would see a small increase of 0.7 percent and a lower. Chris van Hollen (D-MD), ranking member of the CBO, said that "while we've made important economic progress in the last few years, it is indefensible that Congress would impose self-inflicted wounds on our still-recovering economy, especially while so many families are still struggling to make ends meet."

Media Resources: Reuters 07/25/2013; Huffington Post 07/25/2013; ThinkProgress 06/06/2013; ThinkProgress 07/26/2013


© Feminist Majority Foundation, publisher of Ms. magazine

If you liked this story, consider making a tax-deductible donation to support Ms. magazine.

 

 

Send to a Friend
Their
Your
Comments
(optional)


More Feminist News

7/21/2014 Detroit Maternal Death Rate Is Triple the US Average - Women in Detroit are dying from pregnancy-related complications at about three times the US average, according to the Michigan Department of Community Health. Twenty-six women died in Detroit over the period 2008-2011 as a result of pregnancy or childbirth, and Detroit has the highest rate of infant mortality among major US cities, with 13.5 infant deaths for every 1,000 live births. According to Dr. . . .
 
7/21/2014 White House: Corporations Must Inform Employees About Refusal to Cover Contraception - The White House clarified on Thursday that closely held for-profit corporations refusing to provide contraceptive coverage will be required to inform their employees. The clarification is a response to the Supreme Court's ruling in Hobby Lobby v. . . .
 
7/18/2014 Nigeria Secures $15 Million Grant from Norway to Reduce Maternal Mortality - Norway has provided a $15 million grant to the Nigerian government to help the country reduce maternal and child mortality. . . .