Budget Cut Impact: Smaller Navy, Fired Teachers
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.
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.
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."
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 SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV