Who Will Suffer Most From the Sequester?
The Pew Center on the States, a division of The Pew Charitable Trusts, published a report last November that outlines which states would be most affected by the sequester.
The results look at what percentage of a state's GDP comes from federal funds. By proxy, this data shows which states wil be harmed the most from the impending sequester, to take affect in March. Here are two quite interesting charts:
During the Great Recession, one the areas that was least affected was the D.C. metropolitan area. This is the reason why. So much of their prosperity is based upon federal spending in the form of direct employment or contracts to companies. One example of this is Lockheed Martin, whose main facility is located in Montgomery County, Maryland, just outside the District borders.
It is interesting to note that of the 5 states that will be harmed the most from a cut to federal grants, 4 of them are solidly red states that have few sources of state revenue.
See more of our coverage in your search results.
Got a tip? Send it to The Daily Beast here.
Register below to read this article for free or subscribe
to unlock unlimited access to The Daily Beast.
Monthly
$1
First month then $5.99/month
Annual
$35
First year then $59.99/year
Premium
$79
First year then $119.99/year
*Substack access provided by the next business day, using your subscription email. Choosing the Premium plan constitutes your permission to share your subscription email with Substack and your agreement to Substack’s Privacy Policy.
Already have an account? Sign In
Looks like you already have a subscription!
You're all set!
Thanks for subscribing.