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Industry Discussions / Real Estate Inv. Trusts: REITs
|Subject: Re: Sequestration and REITs||Date: 2/27/2013 12:48 AM|
|Author: brucedoe||Number: 73759 of 78149|
Unfortunately, $89 billion encompasses a lot of operations no matter what the percentage is. For one example, one billion dollars is 10,000 employees making $100,000/yr. But we are not talking about one billion dollars but $89 billion and remember the fiscal year is 5 mo. gone so a lot of agency money has already been spent. There are going to be a LOT of people let go, not only in the Civil Service but also in contractors. and contractors do most of the government work these years. Perhaps one day a week furloughs can save the money for the Sequestor, but can people working 80% of full time do the work of employees working 100% of full time?
Clinton was able to cut the Federal work force by some 700,000 in a period of good employment without serious economic effects, but such is not the employment picture today. You might look at my blog piece "Oh No, Not Meat Inspectors:" http://stopcontinentaldrift.blogspot.com/2013/02/oh-no-not-m.... Will the meat inspectors do a faster and less thorough inspection to keep the meat and poultry flowing? If so,I can see a scandal in the offing.
But we don't have to speculate. The experiment will develop soon enough.
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