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Wednesday, February 20, 2013

Maryland Among Most Vulnerable To Fed Budget Cuts

Maryland, Virginia and Washington, D.C., are among the most vulnerable to looming federal budget cuts in defense as well as nondefense spending, according to a report released Monday in Annapolis by Wells Fargo Securities.

The report examines parts of the country that would feel the most pain from $85 billion in cuts set to automatically start taking effect March 1 without a bipartisan deal on sequestration.


Actual cuts may be around 13 percent for defense and 9 percent for other programs because lawmakers delayed their impact, requiring savings over a shorter period of time.

Defense spending has been estimated to account for 9.8 percent of the combined District, Virginia and Maryland economies in 2010, the report noted.

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2 comments:

  1. AnonymousFebruary 20, 2013 at 4:37 PM

    Everyone, please note that these are not spending cuts to programs that we have in place now. These are cuts to additional spending that Obama and the Democrats want.

    ReplyDelete
  2. AnonymousFebruary 21, 2013 at 2:45 AM

    it's all a shell game, a words game and most are clueless. such a shame.

    ReplyDelete

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