Sequester Badness
ecthompsonmd
June 15, 2013
The Sequester is causing widespread pain. From EPI: State budgets rely heavily on federal funding— in 2011, federal grants to state and local governments totaled $607 billion. The sequestration cuts that went into effect on March 1 are a prime example of the impact federal fiscal policy decisions can have on state and local budgets, as well as their overall economies. Sequestration cuts $85 billion from government spending for the rest of fiscal 2013. As this recent EPI paper details, this means a $5.1 billion reduction in federal funding for state grants, relative to federal funding levels that were in place
