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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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To: Organic Panic

The federal workers are underpaid. This will release them to better jobs.


21 posted on 04/01/2017 5:41:33 PM PDT by ActresponsiblyinVA
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To: ameribbean expat

“...agencies whose principal contribution to the Washington economy is jobs.”

Well. There you have it.

God bless President Trump.


22 posted on 04/01/2017 5:41:56 PM PDT by americas.best.days... ( I think we can now say that they are behind us.)
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To: Morpheus2009

That’s the only place that has boomed in the last eight years, except for all the other capitols that spend taxpayer’s money like drunken sailors. (No offense to drunken sailors, bless them all.)

IMHO


23 posted on 04/01/2017 5:42:16 PM PDT by ripley (ually to)
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To: ameribbean expat

After the economic bubble Obama created in Washington D.C. and northern Virginia, the area is due for a recession.


24 posted on 04/01/2017 5:43:02 PM PDT by Wuli
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To: ameribbean expat

Some Brit guy on Jesse Watter’s show just said the federal bureaucracy should be cut to 10%. NOT a 10% cut - eliminate 9 jobs out of every 10 today. That sounds about right.


25 posted on 04/01/2017 5:43:53 PM PDT by bigbob
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To: ameribbean expat

Taxpayer Funded Unnecessary Government Employees hardest hit.


26 posted on 04/01/2017 5:44:23 PM PDT by Kickass Conservative (The way Liberals carry on about Deportation, you would think "Mexico" was Spanish for "Auschwitz".)
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To: ameribbean expat

House rents will go down, so we can reduce Federal housing allowances for the DC Metro area!

Now if we can get the FedGov to move agencies away from DC to ‘more needy’ regions a la the UN model of placing agency HQ in various third world countries.

Move the Dept of Labor to Mississippi, HHS to Wyoming, EPA to Fairbanks, Alaska, HUD to the South Side of Chicago (or Watts). This way, you don’t need to fire anyone, most will quit!


27 posted on 04/01/2017 5:44:31 PM PDT by BwanaNdege ("The church ... is not the master or the servant of the state, but the conscience" - Luther)
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To: ameribbean expat

Good. Maybe the swamp rats will leave.


28 posted on 04/01/2017 5:45:02 PM PDT by boycott
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To: Vlad The Inhaler

I remember seeing pictures of the skyline of DC back in 2010 or so and was amazed at the number of cranes in the shot.

Dozens and dozens of major building projects going on. And I think it’s pretty safe to assume those weren’t private investors doing all of that.


29 posted on 04/01/2017 5:45:45 PM PDT by digger48
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To: ameribbean expat

Perhaps I’m a clod, or math deprived, or a complete loser, but I fail to see ANY downsides to this. There is FAR too much spending in DC and it needs to by cut like it’s a cancer. TOO many jobs, TOO much money, doing FAR TOO LITTLE for the actual country. Time to slash and burn, baby!!


30 posted on 04/01/2017 5:45:46 PM PDT by VideoPaul
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To: ameribbean expat

Then it’ll be President Trump’s recession!

Just when have those on the Left earnestly “looked out” for America and President Trump?

Waiting...


31 posted on 04/01/2017 5:45:53 PM PDT by onyx (Donate Monthly ~ Join 300 Club!)
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To: ameribbean expat

I still remember the pictures of the nearly empty multi lane Highway running next to the Kremlin in the glory days of the Soviet Union.

The only Cars on the road were Government Limos.


32 posted on 04/01/2017 5:47:29 PM PDT by Kickass Conservative (The way Liberals carry on about Deportation, you would think "Mexico" was Spanish for "Auschwitz".)
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To: ameribbean expat

Boo-Hoo!


33 posted on 04/01/2017 5:49:59 PM PDT by Bernard Marx
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To: ameribbean expat

I hope this doesn’t jeopardize their standing as the richest region of the country.


34 posted on 04/01/2017 5:50:19 PM PDT by dgbrown
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To: ameribbean expat

The problem is?


35 posted on 04/01/2017 5:50:23 PM PDT by ColdOne ((I miss my poochie... Tasha 2000~3/14/11~ Best Election Ever!)
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To: ameribbean expat

Boohooooo MF’s. Like you didn’t plunge the other 310 million of us into one with your thievery.


36 posted on 04/01/2017 5:50:36 PM PDT by LesbianThespianGymnasticMidget (God punishes Conservatives by making them argue with fools. Go Trump!)
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To: ameribbean expat

“...You’ve got to create a lot of restaurant jobs to equal one of these....”
********************************************************************************
Most of the highly paid federal “workers” who would lose their jobs would lack the energy and work ethic to handle a “restaurant job”.


37 posted on 04/01/2017 5:51:21 PM PDT by House Atreides (Send BOTH Hillary & Bill to prison.)
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To: ameribbean expat
Four of the five richest...and seven of the ten richest...counties in America are suburbs of *one* city.

Not New York

Not LA

Not Chicago

It's Washington DC...the one major city in the country that makes *nothing* of value.

I'd love to see a recession....a huge one...in DC and nowehere *but* DC.

Maybe then they'll realize what life is like "outside the Beltway".

38 posted on 04/01/2017 5:51:44 PM PDT by Gay State Conservative (Deplorables' Lives Matter)
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To: digger48

Yup.

I remember those crane pix. Only place in the nation like that at the time.

Reminded me of what I read about in history books-about medieval, walled cities. The Beltway was just ‘the wall.’


39 posted on 04/01/2017 5:52:32 PM PDT by combat_boots (God bless Israel and all who protect and defend her! And please, God, bless the USA again.)
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To: Publius

Well, to be honest, instead of recession, I would much prefer smoldering ruin.


40 posted on 04/01/2017 5:52:37 PM PDT by chris37 (Donald J. Trump, Tom Brady, The Patriots... American Destiny!)
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