Not so bad at first, then quite bad. “While all of the effects wouldn’t be seen on March 1, the impacts would still be significant,” says federal budget controller Danny Werfel. Right away the cuts could prompt state and local officials to start laying off public employees. Within a month or two, the economy would feel the cuts’ cascading effects. The best scorekeepers say the sequester could result in 750,000 jobs slashed this year.
- How Bad Will It Be?
- Does This Mean I Don’t Have to Pay My Taxes Because the IRS Will Be Shut Down?
- Why Is This Happening Again?
- Why All This Focus On Cuts? Wasn’t The Latest Election About Which Party Could Create More Jobs?
- What About Monthly Social Security Checks, Medicare and Veteran benefits?
- When Will the Two Sides Come to the Table and Strike a Deal?
- Is There Any Way to Limit the Damage?
- What Does “Sequester” Mean?