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View Diary: Why the Sequester Has Not (yet) Sunk the Economy (37 comments)

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  •  750,000 jobs will vanish overnight? (13+ / 0-)

    Won't they vanish over 6 -12 months as the sequester takes effect slowly, has an impact, and has an aftermath?

    "let's talk about that"

    by VClib on Fri Mar 15, 2013 at 06:15:00 PM PDT

    •  thank you...you beat me to it (5+ / 0-)
      Recommended by:
      VClib, akeitz, northsylvania, jasan, Odysseus

      the only thing that vanishes overnight are symbolic things that make people get angry.  The rest kicks in slowly.

      Oregon: Sure...it's cold. But it's a damp cold.

      by Keith930 on Fri Mar 15, 2013 at 07:16:31 PM PDT

      [ Parent ]

    •  That's overnight (3+ / 0-)
      Recommended by:
      KJG52, gjohnsit, irmaly

      A net loss of 750,000 jobs over six months (and I don't think it will be that few jobs, nor will it take that long) is a shock.

      We can quibble over figurative language or debate substantive issues.  I suspect you'd rather do the former.

      •  Seems like a significant difference... (1+ / 0-)
        Recommended by:
        jasan

        That phrasing was a little jarring to me, too - your diary otherwise paints a coherent and realistic picture of the scenario, which makes that piece of hyperbole seem out of place.  It's the difference between a frog in a fire and a frog in a pot of boiling water: a literal 'overnight' loss of jobs is a lot more politically potent.

        I'd also like to see a source or calculation for the 750k job loss figure - it 'sounds' about right, but I'm not sure where it came from.

    •  Not just job losses...furloughs (3+ / 0-)
      Recommended by:
      CharlieHipHop, akeitz, Dancing Frog

      will have a major impact.

      Government employees on furlough will suddenly find their incomes cut by up to 20% (including their retirement plans). For some, this will mean the difference between living paycheck-to-paycheck and not making it.

      And in many cases they will not be able to find extra employment--both because of government rules about moonlighting and the fact that so many other people will be suddenly unemployed and looking for anything to keep themselves above water.

      It likely also won't be a "vacation" because it will be one day here, or one day there (or even one hour here and one hour there), at the discretion of their supervisors.

      And of course, no unemployment because they are still employed (plus sequestration cuts are happening to unemployment insurance benefits, too).

      "When will our consciences grow so tender that we will act to prevent human misery rather than avenge it?"--Eleanor Roosevelt

      by KJC MD on Sat Mar 16, 2013 at 07:59:55 AM PDT

      [ Parent ]

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