Posted on 03/13/2017 6:53:22 AM PDT by RoosterRedux
President Trump’s budget proposal this week would shake the federal government to its core if enacted, culling back numerous programs and expediting a historic contraction of the federal workforce.
This would be the first time the government has executed cuts of this magnitude — and all at once — since the drawdown following World War II, economists and budget analysts said.
The spending budget Trump is set to release Thursday will offer the clearest snapshot of his vision for the size and role of government. Aides say that the president sees a new Washington emerging from the budget process, one that prioritizes the military and homeland security while slashing many other areas, including housing, foreign assistance, environmental programs, public broadcasting and research. Simply put, government would be smaller and less involved in regulating life in America, with private companies and states playing a much bigger role.
The cuts Trump plans to propose this week are also expected to lead to layoffs among federal workers, changes that would be felt sharply in the Washington area. According to an economic analysis by Mark Zandi, chief economist for Moody’s Analytics, the reductions outlined so far by Trump’s advisers would reduce employment in the region by 1.8 percent and personal income by 3.5 percent, and lower home prices by 1.9 percent.
“These are not the kind of cuts that you can accommodate by tightening the belt one notch, by shaving a little bit off of a program, or by downsizing a few staff here or there,” said Robert Reischauer, a former director of the Congressional Budget Office. “These are cuts that would require a wholesale triage of a vast array of federal activities.”
(Excerpt) Read more at washingtonpost.com ...
I think a lot of people losing their jobs don’t know it yet. If 30K DC homes suddenly go on the market, I think you’d see a mass migration from suburbs everywhere by people who see their fed job as secure for at least the next 8 years. I guess it depends on how the study defines the DC ‘region’.
That doesn't sound like massive cuts to me. Sounds like we are just scratching the surface. I would hoping on something along the lines of a 30 per cent cut across the board.
Well, I guess it's a start.
I think many of the people who live in Northern Virginia moved there to get the hell out of DC.
Some pretty sweet words right there!
Trump = Potter. That Donald, he’s a shrewd one! Obama probably lost a million on his dump already.
Less than a 2% reduction in income and house prices in DC, and liberals will be whining
Excellent then!
We’ve all seen the debt clock going faster and faster.
Maybe a new slogan to go along with “drain the swamp” should be “Stop the clock.”
If Lois Lerner is getting a dime a month that is too much.
The FEDERAL EMPLOEES that lose their “positions” will have absolutely zero problems quickly obtaining high paying jobs in the private sector. After all, THEIR OWN STUDIES say they are paid 34% lower than their private sector counterparts doing the same work.
So this will be good personally for these “highly skilled” federal employees. It should have been done long ago.
/sarc
Like I care about Washington D.C.’s drop in house values by 1.9%
I care about the same they cared when my house dropped in value by 20% and around the nation by 50% or more.
I’d slash the bureaucracy in half. Trump’s being nice.
Maybe a later EO will also cover the parts of fed budgets that pay contractors.
Chase all the rats via 20% RIF into the private sector contractors, then cut the budget for them by 40%.
>>the reductions outlined so far by Trump’s advisers would reduce employment in the region by 1.8 percent and personal income by 3.5 percent, and lower home prices by 1.9 percent.
I’ve been saying that one way to measure Trump’s success would be if DC-area home prices stay flat. If they actually go down, that would be a resounding success.
7 of the 10 wealthiest counties in the USA surround Washington DC.
It clear to me - for flyover America to prosper, Washington DC must suffer.
*************
I looked up our family home from Bethesda 1963 ,,, it sold 4 years ago for $1.9m and is now valued way over $2m ... too bad we moved away in 1967 and LOST money on it ,, selling then for $35k.. The DC area has been out of control hoovering up the nations wealth for the last 40 years.
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