Serious Impact to Federal Grant Funded Jobs and Sandy Recovery Aid
Monarch Housing has been reporting on the progress the Congress is making (or not making) an addressing the sequester. And in its February 3, 2013 Opinion Pages, The New York Times addresses the fact that there are “A Million Jobs at Stake.”
Click here for the Bipartisan Policy Center’s report.
Click here for the Congressional Budget Office Report.
With an economy that is already failing, “it is clear that this is the worst moment to initiate an indiscriminate budget cut. Government spending at this time can spell the difference between growth and shrinkage.”
“The sequester was designed to be so dire that both parties would want to find a better way to reach a budget deal.” But the Republicans are refusing to negotiate with the Democrats.
The op-ed concludes,
“In other words, bring on the unemployment. The first jobs to go will be in the defense sector, but the losses will soon spread as contracts to states and cities are cut, education and police grants are cut, and payments to Medicare providers are cut. Even the aid just approved for victims of Hurricane Sandy will fall under the sequester’s ax.”
What would this mean for the New Jersey residents and businesses that have been waiting for the Sandy recovery funding to rebuild?