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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: ameribbean expat

The heck with drain the swamp.

For DC, I say: RESTORE the swamp!!


81 posted on 04/01/2017 6:35:21 PM PDT by freedumb2003 (Not tired of winning yet!)
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To: freedumb2003

Around town the saying is that DC is recession proof.


82 posted on 04/01/2017 6:38:19 PM PDT by HARRY TUTTLE (Do your duty in all things. You cannot do more. You should never wish to do less. R. E. Lee)
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To: wjcsux

#1 Idea!


83 posted on 04/01/2017 6:40:22 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

Won’t happen. There will be no RIFs. Maybe a reduced hiring rate. Life here inside the Beltway will continue to be stable (and pretty good, actually).


84 posted on 04/01/2017 6:42:34 PM PDT by Poundstone (A Federal retiree and proud of it!)
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To: AFreeBird

85 posted on 04/01/2017 6:47:25 PM PDT by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set!)
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To: ameribbean expat
Trump's budget could plunge nation's capital into recession

So?

They are mostly a bunch of worthless parasites and we are just returning the favor.

They have been plunging the rest of the NATION into recession after recession without ever feeling the pain.

That is OUR money.

86 posted on 04/01/2017 6:50:00 PM PDT by Harmless Teddy Bear (Not a Romantic, not a hero worshiper and stop trying to tug my heartstrings. It tickles! (pink bow))
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To: cyclotic
Good. Join the real world for a change. Now maybe those of us engaged in real business in the region won’t have to wade through hours of traffic.

Yep, my commute is 3 hours a day give or take an hour. Oddly enough the best day (by far) is Friday which many government workers take off. We're not talking comp time because their hours are meager the rest of the week. We're talking about "telecommuting" which is code for "taking the day off".

87 posted on 04/01/2017 6:53:33 PM PDT by palmer (turn into nonpaper w no identifying heading and send nonsecure)
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To: BluH2o

I live in the DC area. It is a cesspool of liberalism and huge numbers of illegals. Government has created its own slave class to cut grass, clean houses and do construction. Government workers and their spawn have ruined politics in Virginia.


88 posted on 04/01/2017 6:57:24 PM PDT by palmer (turn into nonpaper w no identifying heading and send nonsecure)
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To: Jim 0216

“They are presumed to be lying and we should presume what they publish is a lie.”

By an odd coincidence, I just explained that very thing to my 12 year old daughter. I’m grateful to the AP for providing me with such a great example.


89 posted on 04/01/2017 6:57:44 PM PDT by dsc (Any attempt to move a government to the left is a crime against humanity.)
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To: ameribbean expat

Dear Swamp Dwellers, Embrace the suck.

Saith, maddie10


90 posted on 04/01/2017 6:57:49 PM PDT by madison10
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To: ameribbean expat
Let's face facts, if those hangers-on were finally let go (white collar welfare recipients) we would be only hurt for a very short while. I say “go for it President Trump!”
91 posted on 04/01/2017 7:03:24 PM PDT by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
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To: Joe Boucher
Agree completely. I know people in government and people in contracting, pretty much all worthless in synergistic ways.

The government workers are dumb and dangerous. I knew a guy who did security, trying to keep people from emulating Hillary Clinton. Security simply did not matter to them because the people were privileged (over promoted) and rock solid stupid (no hiring standards). The guy finally retired after a frustrating career.

I know lots of people in contracting. The few that are smart and productive are hamstrung. The rest are dead weight. But the government needs the contractors to justify their jobs and the contractors are more than happy to create terrible products for the government.

92 posted on 04/01/2017 7:06:43 PM PDT by palmer (turn into nonpaper w no identifying heading and send nonsecure)
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To: ameribbean expat

I thought fully a third said they could in no wise work for the US Government under a President Trump! So leave already.


93 posted on 04/01/2017 7:10:09 PM PDT by Religion and Politics (It's Morning in America)
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To: ameribbean expat

It’s already disproportionately wealthy and far too many in Washington are paid 6 figure salaries with lavish retirement benefits.

I give a flip...


94 posted on 04/01/2017 7:11:06 PM PDT by Vendome (I've Gotta Be Me - https://www.youtube.com/watch?v=wH-pk2vZG2M)
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To: ameribbean expat

Unless you work for the federal gov in dc, and I do, you cannot begin to imagine the waste. You hear about it, you think you know, but until you see it, you cannot know.

I’ve got 4 years in the USMC, 3 years at the D of Navy as a civilian, and 6.5 years @ SBA.

The waste is STAGGERING!


95 posted on 04/01/2017 7:11:13 PM PDT by Benno van Archimboldi
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To: ameribbean expat

“Trump’s budget could plunge nation’s capital into recession.”

_________________________________________________________

Good. Maybe the northeast Virginia suburbs of D.C. will start to lose some of those blood-sucking civil servants that live up there.


96 posted on 04/01/2017 7:15:14 PM PDT by Bishop_Malachi (Liberal Socialism - A philosophy which advocates spreading a low standard of living equally.)
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To: Vendome

They could easily compensate for this by mandating a raise in the minimum wage to $18 per hour. Waiters at places like PingPong Pizza would be very happy and spend more money, which would ripple through the local economy like a pebble dropped into a lake. Soon the place would be hopping.

Can’t believe Yahoo didn’t mention this. Or did they?


97 posted on 04/01/2017 7:19:39 PM PDT by tsomer
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To: Gay State Conservative

I msut agree. It’s extremely important for federal bureaucrats to feel the same economic pain and uncertainty that the people paying their salaries and benefits have suffered for years. Fair’s fair, don’cha know?


98 posted on 04/01/2017 7:23:40 PM PDT by Milton Miteybad (I am Jim Thompson. {Really.})
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To: ameribbean expat

All bubbles eventually burst.


99 posted on 04/01/2017 7:25:38 PM PDT by Eccl 10:2 (Prov 3:5 --- "Trust in the Lord with all your heart and lean not on your own understanding")
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To: ameribbean expat
playing world's smallest violin...
100 posted on 04/01/2017 7:34:44 PM PDT by Rebelrage ("To crush your enemies -- See them driven, and to hear the lamentation of their women")
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