Budget Cut Impact: Smaller Navy, Fired Teachers
â¿¿Education: Education Secretary Arne Duncan told Congress that 70,000 Head Start pupils would be removed from the pre-kindergarten program, about 1 of every 13. Duncan warned those cuts would mean layoffs of 10,000 teachers and thousands of other staffers because of cuts in federal dollars that state and local governments use for schools. Cuts for programs for handicapped and other special needs students would threaten 7,200 teachers and aides, he said.
â¿¿Health: The National Institutes of Health would lose $1.6 billion, trimming research on cancer, drying up money for hundreds of other research projects and eliminating up 20,000 private research positions nationwide. Health departments would give 424,000 fewer tests for the AIDS virus this year. More than 373,000 seriously ill people may not receive needed mental health services.
â¿¿Transportation: The Federal Aviation Administration plans to furlough most of its 47,000 employees, including air traffic controllers, for an average of 11 days, with most furloughs probably over the summer. FAA Administrator Michael Huerta told employees in a letter this week that while the furloughs can be managed safely, "We might see travel delays and disruptions during the critical summer travel season."
â¿¿Environment: Cuts to the Environmental Protection Agency would jeopardize its ability to protect the public from oil spills, air pollution and hazardous waste, according a letter from Bob Perciasepe, who becomes interim head of the agency on Friday until a replacement is named. States would have to shut down some pollution monitors that determine if air is healthy to breathe. The popular color-coded air quality forecasting system that keeps schoolchildren and others inside on bad-air days would be curtailed or eliminated.The EPA, which already inspects only a tiny fraction of facilities with the potential to spill oil, would do even less. New models of cars and trucks could be delayed from getting to dealership lots because the EPA couldn't quickly validate that they meet emissions standards.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV