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

12/19/2014 Woman on Life Support Revives Ireland Abortion Debate - Debate surrounding Ireland's ban on abortion has come up again following a current case involving a woman who is being kept on life support because she is pregnant. The woman's family wants her to be taken off life support, but doctors refuse because Irish law says they must do what they can to protect the 16-week-old fetus. . . .
 
12/19/2014 DC City Council Unanimously Approves Reproductive Health Anti Discrimination Bill - Wednesday, the Washington, DC City Council unanimously passed a bill that will prohibit employer interference in the reproductive health decisions of their employees. The Reproductive Health Non-Discrimination Amendment Act of 2014 was first introduced by DC Councilmember David Grosso (I-At Large), just ahead of the Supreme Court's ruling in favor of for-profit retail chain Hobby Lobby this summer. . . .
 
12/19/2014 Incremental Gains for Women in Congress - When the 114th Congress is sworn into office on January 3rd, 2015, there will be exactly the same number of women in Senate as the year before, 20, and a record-high number of women in the US House, 84. . . .