SEQUESTER

News

Verb-Isolate or hide away someone or something.
Noun
A general cut in government spending.
Synonyms
verb. sequestrate - seize - isolate - impound - insulate
noun. segregation - sequestration

Any way you define it, in the context of the budget debate and the scrambling to avoid $1.2 trillion in automatic federal spending cuts, a lot of money will be separated from those who really who need it.

Perhaps you’re thinking that just because you don’t live near Washington, DC you won’t be affected. Wrong... Your personal finances may play a part in this political drama. The cuts $85 billion for fiscal 2013 will affect more than just the government employees who may get furloughed or lose their jobs.

The nonpartisan Congressional Budget Office estimates that the sequester could result in a loss of about 750,000 jobs this year. And although the cuts will fall heavily on public-sector workers, they will be felt across all sectors, according to the National Women’s Law Center.

When people’s salaries are reduced or they lose their jobs, they have no choice but to stop shopping or eating out. They ditch vacation plans. They also cancel the services of others. All those cuts can lead to other furloughs or job losses. Have you ever considered the Domino Theory? This could really get ugly down the road.