With the news in recent days on Sequestration cuts being permanent, every sector of the Yelm economy is going to take a “hit”, as the city has attracted an unusually large percentage of JBLM residents in recent years, who are going to feel sequestration’s efffects. With the recent news that Yelm’s 1st quarter retail sales lagged Thurston County, Tumwater, and Lacey and the recent announced closings here of retail giants Blockbuster video and Yelm True Value Hardware, caution and concern is in the air:
– “Despite complaints from Congress, sequester spending cuts taking root”
“But at a hearing of the Senate Homeland Security Committee Wednesday [April 17], ranking Republican member Sen. Tom Coburn of Oklahoma assured the witness, Homeland Security Secretary Janet Napolitano, that the sequester ‘is going to stay.’
He added after the hearing, ‘That money is not coming back. There isnt going to be a Republican whos going to vote to take that spending reduction away.’ (Coburn voted against the Budget Control Act.), by Tom Curry, National Affairs Writer, NBC News.
– “JBLM to listen to civilians on realignment”
“Representatives of I Corps commander, Lt. Gen. Robert Brown, are inviting community businesses and partners to attend a Listening Session on the Army’s future force structure and the potential impact on our local community.
Military officials want to engage their civilian neighbors in the conversation about upcoming changes that have been announced or are possible as the nations budget is rebalanced following the conclusion of battles in Afghanistan and elsewhere,” quoting the Business Examiner.
– Quoting Rep. Denny Heck on March 1:
“Nearly 10,000 Army civilian employees at Joint Base Lewis-McChord will be forced to take 22 unpaid furlough days this spring and summer. These lost wages will ripple through the South Sounds economy.”
– “Public pessimism about the economy is rising, poll says”
“For the third year in a row, the nation’s economic recovery has hit a springtime soft spot. Reflecting that weakness, only 1 in 4 Americans now expects his or her own financial situation to improve over the next year, a new Associated Press-GfK poll shows.
The sour mood is undermining support for President Barack Obama’s economic stewardship and for government in general,” quoting Jennifer Agiesta & Tom Raum on NBC News.