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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

How Budget Cuts Could Affect You

By The Associated Press

Government agencies are already taking steps to comply with automatic spending cuts that took effect March 1. Some examples:

___

AIRCRAFT CARRIER

One of the Navy's premiere warships, the aircraft carrier USS Harry S. Truman, sits pier-side in Norfolk, Va., its tour of duty delayed. The carrier and its 5,000-person crew were to leave for the Persian Gulf on Feb. 8, along with the guided-missile cruiser USS Gettysburg.

IMMIGRANTS

Documents reviewed by The Associated Press show that more than 2,000 illegal immigrants have been freed from jails across the country since Feb. 15. An Immigration and Customs Enforcement spokesman, however, says the number is in the hundreds. ICE officials say they reviewed several hundred cases of immigrants and decided to put them on an "appropriate, more cost-effective form of supervised release."

AIRPORT CUSTOMS

People arriving on international flights were said to experience delays at airport customs and immigration booths, including at Los Angeles International and O'Hare International in Chicago. Officials said Monday that's because they closed lanes that would have previously been staffed by workers on overtime.

___

Examples of other steps that are planned or predicted:

FEDERAL WORKERS

More than half of the nation's 2.1 million government workers may be furloughed. At the Pentagon alone that could mean 800,000 people who will lose a day's pay each week for more than five months; other federal agencies are likely to furlough several hundred thousand more for a varying number of days.

AIRLINE FLIGHTS

There could be widespread flight delays and cancellations due to furloughs of air traffic controllers, but furloughs won't start until April because of the legal requirement to give workers advance notice. Transportation Secretary Ray LaHood predicts flights to cities such as New York, Chicago and San Francisco could have delays of up to 90 minutes during peak hours. FAA officials have said they expect to eliminate overnight shifts by air traffic controllers in more than 60 airport towers and close more than 100 towers at smaller airports. But information posted online by the agency shows 72 airports that could lose midnight shifts and 238 airports whose towers could be closed.

1 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 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

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