The automatic federal budget cuts known as “Sequestration” will soon hit the long-term unemployed in New Hampshire. People who remain jobless for more than 26 weeks are eligible for federally-funded emergency unemployment benefits.
Until about two weeks ago, active duty armed service members could count on $4,500 a year to help pay for college tuition. But with the military suspending the benefit because of sequestration, Southern New Hampshire University is trying to bridge that gap.
More than a year ago, Congress and the President agreed to these spending cuts, said to be so unpleasant they’d force leaders to craft a better deficit reduction plan. Now, with the cuts set to begin, some predict a major hit to our economy but others believe that fear is exaggerated. We’ll get the latest and reaction in the Granite State.
Sequestration cuts to the NASA budget will likely result in hundreds of millions of dollars lost to the Russian government. Joining us to discuss this "self-defeating cash transfusion to Moscow" is John Matson. John is an associate editor who writes about space, physics and mathematics for Scientific American.
New Hampshire labor unions are calling on Congressmen Bass and Guinta to avert automatic budget cuts, laid out in a deficit reduction deal between Democrats and Republicans last year. As things stand now, on January 1st mandatory budget cuts will be imposed on defense spending, Medicare, and discretionary spending – unless the current members of Congress do something to stop them.
No matter who wins on November 6th, President of the New Hampshire AFL-CIO Mark Mackenzie says, it will be this year’s lame duck Congress who will have to deal with automatic cuts.