600,000 food stamp recipients will be cut from program
Massive educational cuts
Millions on unemployment will see their checks cut by 11%
12 billion in Medicare cuts
Federal funds to state governments will be cut
700,000 jobs are expected to be lost
While 70,000 children kicked out of head start
Hard Budget Realities as Agencies Prepare to Detail Reductions
WASHINGTON — In the first week of March, a laid-off person living on $300 a week in unemployment benefits is liable to find a surprise in the mailbox: notification from Uncle Sam that come April the check will be $33 lighter.
“Sequestration,” that arcane budget term consuming Washington in recent weeks, is about to move from political abstraction to objective reality for tens of millions of Americans. Barring an extremely unlikely last-minute deal, about $85 billion is set to be cut from military, domestic and certain health care programs beginning Friday.
More than 100 air traffic towers could close, some in the Heartland
CARBONDALE, IL (KFVS) -
The Federal Aviation Administration is considering closing more than 100 air traffic control towers at smaller airports nationwide.
Towers in the Heartland could be shut down if no deal is reached in Washington to avert federal spending cuts scheduled to take effect next month.
California Would Lose $500 Million Under Sequestration
If Congress fails to reach a budget deal this week, California will lose more than $500 million in funding for schools, the military, disability services and other federal spending, according to a report released by the White House.
More: Specifics on how California will be affected
The steep cuts, put into place in 2011 as a way to dissuade the ever-feuding Democrats and Republicans in Washington from refusing to reach a deal, are set to go into effect March 1. They have become known in politcal jargon as “sequester cuts,” or “sequestration.”
With Congress unlikely to stop deep automatic spending cuts that will strike hard at the military, the fiscal stalemate is highlighting a significant shift in the Republican Party:
Writing in the conservative Weekly Standard, William Kristol, a Republican hawk, excoriated Republicans for being “so desperate for a ‘victory’ over Obama” that they were “willing to sacrifice national defense for minor cuts in domestic spending…”
so many rank-and-file Republicans adamant that they would rather see the cuts stand than raise any taxes..
Whether or not lawmakers can agree to another sequester deal, U.S. consumers are struggling to pay bills and stay afloat. According to The Wall Street Journal, food companies are lowering future sales forecasts and marketing cheaper products to cash-strapped consumers. Burger King (BKW) has been promoting its value menu items and reduced the cost of its Whopper Jr. sandwich by 71 cents. Wal-Mart (WMT) is stocking shelves with lower-priced items to adjust to the pressures on consumer spending.