This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

How Budget Cuts Could Affect You

TRANSPORTATION

The nation's busiest airports could be forced to close some of their runways, causing widespread flight delays and cancellations. Transportation Secretary Ray LaHood predicts flights to cities like New York, Chicago and San Francisco could have delays of up to 90 minutes during peak hours because fewer controllers will be on duty.

Though the spending cuts are scheduled to go into effect on Friday, furloughs of controllers won't kick in until April because the Federal Aviation Administration is required by law to give its employees advance notice. In addition to furloughs, the FAA is planning to eliminate midnight shifts for air traffic controllers at 60 airport towers, close over 100 control towers at smaller airports and reduce preventative maintenance of equipment.

NATIONAL PARKS

Visiting hours at all 398 national parks are likely to be cut and sensitive areas would be blocked off to the public. Thousands of seasonal workers looking for jobs would not be hired, according to Interior Secretary Ken Salazar. Salazar and National Park Service director Jon Jarvis said visitors would encounter locked restrooms, fewer rangers and trash cans emptied less frequently.

FEDERAL WORKERS

More than half of the nation's 2.1 million government workers may be required to take furloughs if agencies are forced to trim budgets. At the Pentagon alone that could mean 800,000 civilian workers would be off for 22 days each, spread across more than five months â¿¿ and lose 20 percent of their pay over that period. Other federal agencies are likely to furlough several hundred thousand more workers.

EDUCATION

Some 70,000 students enrolled in pre-kindergarten Head Start would be cut from the program and 14,000 teachers would lose their jobs. For students with special needs, the cuts would eliminate some 7,200 teachers and aides. The Education Department is also warning that the cuts will impact up to 29 million student loan borrowers and that some lenders may have to lay off staff or even close. Some of the 15 million college students who receive grants or work-study assignments at some 6,000 colleges would also see changes.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim 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
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David 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
Dividend Stock Advisor
Try it NOW

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
Real Money Pro
Try it NOW

All 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 Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our 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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,265.99 +109.14 0.64%
S&P 500 2,011.36 +9.79 0.49%
NASDAQ 4,593.4250 +31.2360 0.68%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs