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

2/27/2015 This Bipartisan Bill Will Hold Colleges Accountable for Ending Campus Sexual Assault - A bipartisan bill aimed at holding colleges and universities accountable for rape and sexual assault cases was introduced in Congress yesterday, spearheaded by Senator Kirsten Gillibrand (D-NY). Some of the Campus Accountability and Safety Act's key key provisions include a requirement of confidential reporting systems on colleges and universities, minimum training requirements for campus personnel, and stricter penalties for schools found to be in violation of Title IX or the Clery Act. . . .
 
2/27/2015 Houston Is Finally Testing a Backlog of Thirty-Year-Old Rape Kits - The city of Houston, Texas has finally begun testing decades-old rape kits - and in just one week, those have led to hundreds of leads. Houston is one of the first of the major cities nation-wide to clear their backlog of over 6,000 untested rape kit s- some of which were more than thirty years old. . . .
 
2/26/2015 If This Bill Passes Federal Law Will Add Consent to Sex Ed Curriculums - Right now, federal law does not require health or sex education to include sexual assault prevention - but that could change with a new bill introduced by Senators Claire McCaskill (D-MO) and Tim Kaine (D-VA). The Teach Safe Relationships Act of 2015, which was introduced earlier this month, would require all public secondary schools in the country to include teaching "safe relationship behavior" in order to help prevent domestic violence and sexual assault. . . .