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

4/17/2015 Senate Passes Compromise Bill Increasing Federal Funding for Abstinence-Only Sex Education - The Senate overwhelmingly approved of HR 2 on Tuesday, a $200 billion package that included an enormous increase of federal funding for abstinence-only-until-marriage (AOUM) curricula. The US Senate voted 92-8 to pass HR 2, which has been known as the "doc fix" for Medicaid reimbursement rates, as well as many other health care provisions. . . .
 
4/16/2015 March2Justice Protesters Embark on 250-Mile March to Protest Police Brutality - Marchers are ending an eight-day journey across 250 miles and five states to deliver anti-profiling and police-force-militarization legislation from New York City to Washington, D.C. . . .
 
4/16/2015 One Year Since the Kidnappings, #BringBackOurGirls Still Matters - In April of 2014, almost 300 Nigerian schoolgirls were kidnapped by the terrorist group Boko Haram. . . .