Sequestration Likely To Get Worse, Owens Says
Cutbacks in federal programs and furloughs at Fort Drum are just a couple of the impacts of sequestration.
North country Congressman Bill Owens isn't optimistic about resolving the situation before the start of the next fiscal year on October 1.
With Congress on summer break, there is little hope of settling differences over sequestration. It's the budget-cutting deal that no one in Washington apparently wanted, but now can't seem to stop.
Owens says the effects on the local economy are going to be more obvious.
"You're going to see ramifications of that in the local economy," he said. "There is absolutely no doubt about that.
"Just like you saw when there were cuts in the school districts and they laid off teachers. All of those things have a ripple effect in the economy.
"I think as time goes on, the impact of sequestration is going to be greater and we're going to see more and more negatives flowing out of sequestration," he said.
Owens says he favors several General Accounting Office recommendations that would reportedly provide savings of $100 billion without having to resort to sequestration.
Friday, August 22, 2014, Watertown, NY
On Wall Street