Coast to coast, states brace for budget shock, DC economy to take ‘the worst’. What sequester? US Releases 250 million dollar aid package to Egypt while cutting it’s own people’s services.
March 3rd, 2013
From coast to coast, states brace for sequester shock
Sure, it’s got a weird name. But the effects of sequestration may hit all too close to home for some Americans if lawmakers allow the cuts to take full effect later this month. One day after President Barack Obama signed an order to cut spending by $1.2 trillion over a decade, NBC News takes a look at how people may feel the pinch from New York to Chicago to Los Angeles.
Sequester storm gathers over D.C. economy
Let the sequester begin.
President Barack Obama on Friday signed an order that starts putting into place federal spending cuts that could begin forcing layoffs of federal workers. Obama signed his directive, entitled “Sequestration Order for Fiscal Year 2013,” after he and congressional leaders failed to come up with an alternative budget plan.
The nation’s capitol and nearby Virginia and Maryland will likely feel the worst of the impact. States heavily-reliant on federal spending – as far away as New Mexico – are also in for some rough weather.
White House retreats from doomsday spending cuts predictions, but keeps blame on Republicans