U.S. lawmakers are rapidly approaching the onset of a “fiscal doomsday” scenario, known as sequestration, which promises, among many other things, to sacrifice more than a million U.S. jobs and hinder military readiness.
President Obama is expected to meet with the top four Republican and Democratic leaders of the House and Senate on March 1 in a last-ditch effort to strike a deal before the midnight deadline.
If Congress is unable to reach a deal by the end of March 1, $1.2 trillion in across-the-board spending cuts will take effect. Nearly a million jobs – ranging from federal workers who provide critical services, the civilian defense-related workforce, aerospace workers, teachers, firefighters and police – will be lost. Funding for teachers, job-search assistance programs and Meals on Wheels for senior citizens would get the axe. About 2 million long-term unemployed people could see smaller unemployment benefit checks. There could also be reductions in federal payments that subsidize clean energy, school construction and state and local public works projects.
The affects have already begun to take effect in the defense and U.S. shipbuilding industries as officials have started eliminating positions and cancelling ship maintenance and repairs ahead of the possible cuts.
Among the sequester’s other possible impacts, the head of the Federal Aviation Administration is warning about major flight delays and the closure of hundreds of air traffic control towers at smaller airports across the country.
Take action now by clicking here or calling the U.S. Capitol Switchboard at (202) 224-3121. Tell Congress to stop sequestration.
