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What is the Impact of the Defense Sequester on the Economy?

By Brian Collins, Shai Akabas, Steve Bell

Wednesday, December 11, 2013

The first punch to the economy from the defense sequester has landed and the second is in motion. If it’s not blocked, these reductions will contribute to 640,000 fewer jobs in the economy and gross domestic product (GDP) will be over 0.6 percent lower by the end of 2015.

Adopting the bipartisan agreement by House Budget Committee Chairman Paul Ryan (R-WI) and Senate Budget Committee Chairman Patty Murray (D-WA) would delay (but not eliminate) some of these macroeconomic impacts.

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KEYWORDS: PAUL RYAN, SENATE BUDGET COMMITTEE, PATTY MURRAY, HOUSE BUDGET COMMITTEE

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