RELEASE: Four Reasons Why Sequestration Will Get Worse in 2014
Contact: Katie Peters
Washington, D.C. — Sequestration is already a disaster for the American people, but according to a new report released today by the Center for American Progress, a number of factors will make the impact of sequestration worse in 2014.
“Sequestration cuts have already damaged our economy and eliminated hundreds of thousands of jobs, but that’s just the tip of the iceberg,” said Harry Stein, author of the report and Associate Director for Fiscal Policy at CAP. “If Congress allows this misguided austerity to continue, the impacts of these cuts will grow far more severe for the American people.”
Stein’s report released today outlines four factors making next year’s sequester even more damaging than this year’s. First, and most simply, the sequester makes larger cuts in 2014 than it did in 2013. Second, many of the cuts that were legally made this year have not actually been implemented yet. Third, one-time fixes that mitigated sequestration’s worst impacts in 2013 cannot be used again next year. Fourth, sequestration made cuts to little-noticed but critical functions of government—cuts that will be particularly devastating if they are not reversed soon.
If sequestration is allowed to continue through all of fiscal year 2014, which began on October 1, 2013, the nonpartisan Congressional Budget Office, or CBO, estimates that 800,000 more jobs will be lost. Another year of sequestration would reduce economic growth by 0.6 percent of gross domestic product, or GDP. The key pillars of American prosperity and security would come apart as sequestration hollows out education, research, infrastructure, public safety, and national defense. In short, we cannot afford another year of sequestration.
Read the report: How Sequestration Gets Worse in 2014 by Harry Stein
Related video: 4 Ways Sequestration Gets Worse Next Year
See also: Replacing the Sequester by Michael Linden
To speak with an expert, contact Katie Peters at firstname.lastname@example.org or 202.741.6285.
To speak with our experts on this topic, please contact:
Print: Liz Bartolomeo (poverty, health care)
202.481.8151 or email@example.com
Print: Tom Caiazza (foreign policy, energy and environment, LGBT issues, gun-violence prevention)
202.481.7141 or firstname.lastname@example.org
Print: Allison Preiss (economy, education)
202.478.6331 or email@example.com
Print: Tanya Arditi (immigration, Progress 2050, race issues, demographics, criminal justice, Legal Progress)
202.741.6258 or firstname.lastname@example.org
Print: Chelsea Kiene (women's issues, TalkPoverty.org, faith)
202.478.5328 or email@example.com
Print: Benton Strong (Center for American Progress Action Fund)
202.481.8142 or firstname.lastname@example.org
Spanish-language and ethnic media: Jennifer Molina
202.796.9706 or email@example.com
TV: Rachel Rosen
202.483.2675 or firstname.lastname@example.org
Radio: Sally Tucker
202.482.8103 or email@example.com