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Trump's budget could plunge nation's capital into recession
Yahoo Finance ^

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 ...


TOPICS: Business/Economy; Government; News/Current Events; US: District of Columbia; US: Maryland; US: Virginia
KEYWORDS: 115th; awshucks; boohoo; contractors; dc; fed; federalspending; first100days; layoffs; maryland; recession; trumpbudget; virginia; wheresthedownside
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1 posted on 04/01/2017 5:29:23 PM PDT by ameribbean expat
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To: ameribbean expat

Ping


2 posted on 04/01/2017 5:30:42 PM PDT by Morpheus2009
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To: ameribbean expat
Trump's budget could plunge the nation's capital into recession.

And the problem with that is?

3 posted on 04/01/2017 5:31:35 PM PDT by Publius ("Who is John Galt?" by Billthedrill and Publius available at Amazon.)
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To: ameribbean expat

Now THAT’S a plan....


4 posted on 04/01/2017 5:31:40 PM PDT by newfreep ("If Lyin' Ted was an American citizen, he would be a traitor.")
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To: ameribbean expat

Yes! Through them into that briar patch!


5 posted on 04/01/2017 5:31:43 PM PDT by SubMareener (Save us from Quarterly Freepathons! Become a MONTHLY DONOR)
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To: ameribbean expat

Awwwwwww

That’s Tewibble!

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!


6 posted on 04/01/2017 5:32:21 PM PDT by Regulator
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To: ameribbean expat
Oh Well ...
7 posted on 04/01/2017 5:32:52 PM PDT by af_vet_1981 (The bus came by and I got on, That's when it all began.)
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To: ameribbean expat

MAGA


8 posted on 04/01/2017 5:33:01 PM PDT by ClearCase_guy (Abortion is what slavery was: immoral but not illegal. Not yet.)
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To: ameribbean expat

Awesome! Right on target.


9 posted on 04/01/2017 5:33:09 PM PDT by Colorado Doug (Now I know how the Indians felt to be sold out for a few beads and trinkets)
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To: ameribbean expat

10 posted on 04/01/2017 5:35:30 PM PDT by brianr10
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To: ameribbean expat
Article by whom? Dumbo Finance?

Don’t 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.

11 posted on 04/01/2017 5:35:58 PM PDT by Jim 0216
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To: ameribbean expat

Nice! Welcome to our reality you grifting sponges!


12 posted on 04/01/2017 5:36:37 PM PDT by WMarshal (President Trump, a president keeping his promises to the American people. It feels like winning.)
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To: ameribbean expat

So they’re saying that keep those nonessential jobs so that restaurant workers and the service industry people won’t be laid off.


13 posted on 04/01/2017 5:36:40 PM PDT by SkyDancer (I Believe In The Law Until It Interferes With Justice)
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To: ameribbean expat

What’s the bad news?


14 posted on 04/01/2017 5:36:52 PM PDT by RightGeek (FUBO and the donkey you rode in on)
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To: ameribbean expat

Oh, the poor babies. Now some of them might have to go get real jobs.


15 posted on 04/01/2017 5:37:02 PM PDT by Sparticus (Tar and feathers for the next dumb@ss Republican that uses the word bipartisanship.)
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To: ameribbean expat
Does it occur to any of these clowns that Trump is President of the entire nation--not just the D.C. region?

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?

16 posted on 04/01/2017 5:38:36 PM PDT by Lysandru
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To: ameribbean expat

Oh me Oh my!

Why can’t president Trump be frugal like Obama was?

/sarcasm off


17 posted on 04/01/2017 5:38:57 PM PDT by Vlad The Inhaler (Best long term prep for conservatives: Have big families & out-breed the illegals & muslims.)
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To: ameribbean expat

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.


18 posted on 04/01/2017 5:39:49 PM PDT by Organic Panic (Flinging poo is not a valid argument)
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To: All

Fantastic way to help “drain the swamp”!!!!!!!!!!


19 posted on 04/01/2017 5:40:17 PM PDT by JBW1949 (I'm really PC....PATRIOTICALLY CORRECT!!!!)
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To: ameribbean expat

“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!


20 posted on 04/01/2017 5:41:03 PM PDT by JPJones (George Washington's Tariffs were Patriotic. Build a Wall and Build a Wall of tariffs.)
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