The “Fiscal Cliff” Deal

The “Fiscal Cliff” Deal

January 4, 2013

We’ve received a number of questions in the past few days about the budgetary and economic impact of the significant budget legislation just enacted by the Congress. Here are some of the most common questions and our answers to them:

Does the Legislation Increase or Decrease Federal Budget Deficits?

That depends on what you compare the legislation with:

Relative to what would have occurred under the laws previously in effect, this legislation will increase budget deficits in coming years. Continue reading “The “Fiscal Cliff” Deal”

Fiscal cliff deal: No comfort to feds

Fiscal cliff deal: No comfort to feds

Jan. 7, 2013 – 07:22AM   |

By STEPHEN LOSEY and SEAN REILLY   |   Comments
 Echoing the sentiments of other Congressional Republicans, Senate Minority Leader Mitch McConnell, R-Ky., signaled in an opinion piece posted on Yahoo News' website last week that the GOP will use the looming debt ceiling showdown to shrink spending.
Echoing the sentiments of other Congressional Republicans, Senate Minority Leader Mitch McConnell, R-Ky., signaled in an opinion piece posted on Yahoo News‘ website last week that the GOP will use the looming debt ceiling showdown to shrink spending. (AFP)

The fiscal cliff deal, struck last week, delayed steep sequestration budget cuts for two months, but it does virtually nothing to solve the major problems facing federal employees.

Instead, it sets the stage for a series of new “cliffs” within the next couple of months: a needed increase in the nation’s debt ceiling by late February; steep sequestration budget cuts due to hit March 1; and the March 27 expiration of the current government spending bill. Continue reading “Fiscal cliff deal: No comfort to feds”

Federal worker Q&A guide to the fiscal cliff: Ten answers on jobs, cuts and more

Federal worker Q&A guide to the fiscal cliff: Ten answers on jobs, cuts and more

Posted by Eric Yoder on December 12, 2012 at 6:00 am

Federal employees have a major stake in the debate over whether, and how, the government should back away from the “fiscal cliff” and potential for automatic “sequestration” cuts to programs starting in January.

Agencies have begun making plans for a sequester that could include steps such as hiring freezes, unpaid furloughs and even layoffs. However, the exact impact remains unknown.

Meanwhile various proposals to avoid the sequester are circulating, including some that would protect federal employees and others that would affect federal jobs, pay and benefits.

Following are 10 key questions employees are asking, and the answers as best as they can be determined at this point. Continue reading “Federal worker Q&A guide to the fiscal cliff: Ten answers on jobs, cuts and more”

The Fiscal Cliff, In Three And A Half Graphics

NPR

September 20, 2012

by Jacob Goldstein and Lam Thuy Vo

For more, see this story from NPR’s Marilyn Geewax on how Congress might pass some stopgap measures to blunt the effect of the fiscal cliff.

A bunch of federal tax increases and spending cuts are scheduled to kick in around Jan. 1, 2013. This is what people are talking about when they talk about the “fiscal cliff.”

If recent experience is any guide, things will probably start to get crazy as the deadline approaches, and Congress will move at the last minute to block some of the tax increases and spending cuts.

Before things get crazy, let’s take a quick look at the numbers for fiscal year 2013. Continue reading “The Fiscal Cliff, In Three And A Half Graphics”

Part 2: D.C. Area Braces For Impacts Of Federal Budget Cuts

WAMU 88.5

Part 2: D.C. Area Braces For Impacts Of Federal Budget Cuts

By: Rebecca Blatt // July 30, 2012
Stan Soloway, president and CEO of the Professional Services Council, addresses federal contractors at a meeting called "OMG: What if sequestration happens?" in Arlington, Va. earlier this month.
 Mylon Medley
Stan Soloway, president and CEO of the Professional Services Council, addresses federal contractors at a meeting called “OMG: What if sequestration happens?” in Arlington, Va. earlier this month.

As deadline looms, planning for the worst and hoping for the best

There’s a lot of talk around Washington these days involving a nasty “s”-word: sequestration. It’s the name given to the deep, across-the-board federal spending cuts set to go into effect in January if Congress does not intervene.

These cuts were meant to be an incentive for a Congressional “super committee” to find an alternative way to reduce the deficit, but its failure to reach any agreement triggered $1.2 trillion in reductions during the next decade. As the deadline approaches for lawmakers to avert the cuts, many local leaders are concerned.

“When you tie your economy to one horse, it really has to be a good horse. And ours has come up lame now,” says Stephen Fuller, director of George Mason University’s Center for Regional Analysis. Continue reading “Part 2: D.C. Area Braces For Impacts Of Federal Budget Cuts”

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