Sequestration Will Hurt Our Economy

Nicholas Mangee


After being delayed for two months, the automatic across-the-board cuts to federal spending - known as sequestration - are set to take effect on Friday. The self-inflicted negative impact of such a fiscal shock, while not catastrophic, will certainly depress growth, cost jobs and counteract much of the recent progress made on the macro front. In fact, the firm Macroeconomic Advisors LLC estimates the sequester will take 0.6 percent off the already meager 2.6 percent growth forecast for 2013 and cost the nation approximately 700,000 jobs by the end of 2014...