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 ...
The federal workers are underpaid. This will release them to better jobs.
“...agencies whose principal contribution to the Washington economy is jobs.”
Well. There you have it.
God bless President Trump.
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
After the economic bubble Obama created in Washington D.C. and northern Virginia, the area is due for a recession.
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.
Taxpayer Funded Unnecessary Government Employees hardest hit.
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!
Good. Maybe the swamp rats will leave.
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.
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!!
Then it’ll be President Trump’s recession!
Just when have those on the Left earnestly “looked out” for America and President Trump?
Waiting...
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.
Boo-Hoo!
I hope this doesn’t jeopardize their standing as the richest region of the country.
The problem is?
Boohooooo MF’s. Like you didn’t plunge the other 310 million of us into one with your thievery.
“...You’ve got to create a lot of restaurant jobs to equal one of these....”
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Most of the highly paid federal “workers” who would lose their jobs would lack the energy and work ethic to handle a “restaurant job”.
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".
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.’
Well, to be honest, instead of recession, I would much prefer smoldering ruin.
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