Skip to comments.Trump's budget could plunge nation's capital into recession
Posted on 04/01/2017 5:29:23 PM PDT by ameribbean expat
While many of the targeted federal agencies have offices outside Washington, Trump's dream budget would hit the region disproportionately, with tens of thousands of jobs at risk. The cuts would be felt throughout the city, with fewer people riding the already-beleaguered Metro subway or eating at restaurants. It would also hurt Washington's already-shaky market for office space.
Economist Stephen Fuller of George Mason University, who has studied the regional economy for decades, estimated 20,000-24,000 federal employees and 10,000 federal contractors would lose their jobs under Trump's proposal. That equates to 5 percent of federal workers in the region.
With those workers earning an average salary of $111,000, the job losses would mean more than $2.2 billion in lost wages, Fuller said. That would reverberate around the city.
"These are basically shutting agencies down whose principal contribution to the Washington economy is jobs," Fuller said. "These are really good jobs. The average job in a restaurant (pays) $28,000. You've got to create a lot of restaurant jobs to replace one of these."
(Excerpt) Read more at finance.yahoo.com ...
And the problem with that is?
Now THAT’S a plan....
Yes! Through them into that briar patch!
I feel SO bad that ridiculously overpaid do nothings won’t get any more of my money!
Now that they’re on the job market again, maybe they’ll stop lecturing us about how “we need” all the immigrant aliens!
Awesome! Right on target.
Dont believe those Lying Leftist Media outlets that proved themselves during the 2016 campaign to be operatives of the DNC and intentional liars. They are presumed to be lying and we should presume what they publish is a lie. The presumption can only be rebutted with the outlet providing clear and convincing evidence they are not lying.
Nice! Welcome to our reality you grifting sponges!
So they’re saying that keep those nonessential jobs so that restaurant workers and the service industry people won’t be laid off.
What’s the bad news?
Oh, the poor babies. Now some of them might have to go get real jobs.
Isn't this kind of thinking straight out of The Hunger Games?--where the districts of Panem have to sacrifice to keep The Capital living high on the hog?
Oh me Oh my!
Why can’t president Trump be frugal like Obama was?
So...Not only can global warming do everything, so can Trump’s budget.
And never mind that we have 20 trillion in immediate debt and another 200 trillion in unfunded liabilities. That won’t have any effect on the economy. Just the redundant employees working for the federal government.
Fantastic way to help “drain the swamp”!!!!!!!!!!
“Economist Stephen Fuller of George Mason University, who has studied the regional economy for decades, estimated 20,000-24,000 federal employees and 10,000 federal contractors would lose their jobs under Trump’s proposal.
That equates to 5 percent of federal workers in the region. “
No, that equates to...WINNING!
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