February 12, 2013

White House Fact Sheet on the Sequester

Last week, the White House released a fact sheet detailing how the sequester cuts would impact the economy, jobs, and middle-class families. Here are some highlights:

Cuts to education: Our ability to teach our kids the skills they’ll need for the jobs of the future would be put at risk.  70,000 young children would be kicked off Head Start, 10,000 teacher jobs would be put at risk, and funding for up to 7,200 special education teachers, aides, and staff could be cut.

Cuts to small business: Small businesses create two-thirds of all new jobs in America and instead of helping small businesses expand and hire, the automatic cuts triggered by a sequester would reduce loan guarantees to small businesses by up to $902 million.

Emergency responders – FEMA would need to reduce funding for State and local grants that support firefighter positions and State and local emergency management personnel, hampering our ability to respond to natural disasters like Hurricane Sandy and other emergencies.

Economic development – The Economic Development Administration’s (EDA) ability to leverage private sector resources to support projects that spur local job creation would be restricted, likely resulting in more than 1,000 fewer jobs created than expected and leaving more than $47 million in private sector investment untapped.

That’s just the taste of the damage that the sequester will do to our economy. So why do conservatives insist on holding our economy hostage to support their wealthy CEO friends and corporations?

Check out the entire White House fact sheet here for more details, and follow us on Facebook and Twitter for live updates of the President’s State of the Union speech tonight.