Skip to comments.Bay Area, California to lose big if federal sequester cuts hit this week
Posted on 02/24/2013 5:41:36 PM PST by artichokegrower
Just when Californians are finally feeling upbeat again about where the state is heading, here comes a fresh downer: The federal sequester cuts set to kick in this week could cost California billions of dollars and hundreds of thousands of jobs while making most of our daily lives more difficult.
The state's budget may be balanced and the economy improving, but unless congressional Republicans and President Barack Obama reach a last-minute deal, the federal government on Friday will begin slashing $85 billion this year, including about 8 percent from the Pentagon and about 5 percent from most other discretionary programs.
In California, the cuts would cost the Golden State 225,000 current and future jobs, about $670 million annually in federal grants, plus $3.3 billion in statewide military and defense revenue, lawmakers, administration officials and experts estimate. $670 million annually in federal grants, plus $3.3 billion in statewide military and defense revenue, lawmakers, administration officials and experts estimate. The University of California is anticipating 5 percent hits to its $3.3 billion federally funded research program as well as its $1.5 billion in U.S. student aid program, on top of federal cuts enacted last year. School districts around the state would also take sucker punches., on top of federal cuts enacted last year. School districts around the state would also take sucker punches.
(Excerpt) Read more at mercurynews.com ...
What are Californians smoking, that they are optimistic about that sad state’s recovery?
If any state deserves to suffer, it’s the defunct Golden State: Land of Fruits, Nuts and Soaring Taxes.
why would they be upbeat??
Yep,...It's printed on the second page of the red light and speed camera tickets.
exactly, accounting tricks are not revenue
Illegals don’t need to pay taxes. They’re so good hearted that they want to serve their fellow man for free. LOL
Kali is gonna suffer? Wait! Kali is “unique” and “special.”
What about all the other states jerkweed?
So, there are really no cuts at all. All this is scare tactics coming from the White House, attempting to create a desperate crisis where none exists. Shall we now call the President Barak Drama Obama?
The state is still 24 billion in the red. Such garbage from the San Jose Mercury
Nah - that won’t work. You need to go out by the Farralon islands to find what you are looking for.
>Just when Californians are finally feeling upbeat again about where the state is heading<
Excuse me? What Californians would these be?
I don’t know any...
No sharks in the bay?
Not unless some lawyer went and jumped off the bridge and managed to miss the netting. ;-)
Actually there are occasional sightings of sharks in the bay - but it is real rare. So rare that it makes then news usually.
Doncha have any crabs or something? An occasional school of barracudas swimming through?
(Oops, another unintentional lawyer reference.)
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