10/26 noon: Chapman on “Impact of Cutbacks in Government on the Washington Area and Beyond” at 618 H St NW

Upcoming event from NEC and SGE:

Chinatown Garden Restaurant 618 H St NW Washington DC
Date: 26 Oct 2017 12:00 PM

Jeannette Chapman

Deputy Director and Senior Research Associate, Stephen S. Fuller Institute, Schar School of Policy and Government at George Mason University

“Impact of Cutbacks in Government on the Washington Area and Beyond”

As of 2017, Federal Government either directly or indirectly accounted for 29.9 percent of the Gross Regional Product (GRP) in the Washington metropolitan statistical area (Washington region). As the dominant industry in the region, changes to Federal spending have an outsized effect on the region’s economy. The Sequester in 2013 reduced Federal employment in the region by about 4 percent and procurement by about 15 percent. As a result, the region’s GRP decreased by $3.27 billion (2009 $s) in 2013. GRP gains in 2014 were also subdued, rising 0.5 percent compared to the national increase of 2.6 percent. The economy stabilized in 2015 and 2016, but the Trump administration’s Budget Blueprint raises new concerns about the future economic health of the region. If implemented, the Trump Blueprint would reduce Federal spending on wages and salaries, procurement, and grants by between $4.2 and $5.0 billion, or nearly one percent of GRP. The FY18 budget passed by the House on October 5, 2017 reflects some of the cuts broadly outlined in the Trump Blueprint, but much uncertainty remains over the final FY18 budget and its effect on the Washington region.

Jeannette Chapman is the Deputy Director and Senior Research Associate of The Stephen S. Fuller Institute at the Schar School of Policy and Government at George Mason University. She joined George Mason University in 2013 as the Research Associate at the Center for Regional Analysis (CRA). Prior to joining George Mason University, she was the Research Associate for Economic Growth and Development at the DowntownDC Business Improvement District. Ms. Chapman received BA’s in Economics and Foreign Affairs from the University of Virginia and a Master’s degree in Public Policy from George Mason University.

Register at https://national-economists.com/event-2683714