How Will Sequestration Impact Your Organization?
With his signature this week, President Obama will sign into law a set of federal spending cuts known as sequestration. For 2013, $85 billion in cuts will occur; the fall-out for 2013 includes:
- 2.14 million jobs lost (1.5% increase in unemployment)
- 1.5% decrease in GDP growth
- $42.7 billion in defense cuts
- $28.7 billion in domestic cuts
- $9.9 billion in Medicare cuts
More will be cut in 2014 and later as the sequester will cut approximately $87 to $92 billion from the discretionary budget each year, which is a total of $109 billion. Approximate cuts include:
- Military operations across the services--$13.5 billion
- Public housing--$1.94 billion
- NIH--$1.6 billion
- NASA--$960 million
- FBI--$480 million
- CDC--$323 million
- FDA--$206 million
Our speakers at Worldwide Speakers Group (WWSG) provide profound insights to your questions. They are the most tapped resources on the federal budget and our economy. Please let WWSG know how we can help bring one of these, or any of our other distinguished speakers to your next event. We may be reached at 703.373.WWSG (9974) or solutions@WWSG.com.
How Will Cuts Impact Your Organization?
WWSG's mission is to provide an unprecedented and unparalleled level of support, service and value in the speaker industry. To learn more about bringing one of these, or any of our other distinguished speakers to your next event, please contact us at 703.373.WWSG (9974) or visit WWSG.com.