Trump federal worker firings threatens to destabilize DC economy
Source: The Hill
Trump federal worker firings threatens to destabilize DC economy
by Rebecca Beitsch - 04/01/25 6:00 AM ET
President Trump’s widespread firing of federal workers threatens to destabilize a Washington economy closely intertwined with the fate of government employees.
More than 80 percent of the nation’s federal employees are located outside Washington, but the concentration of workers in the capital means President Trump and Elon Musk’s plans are sure to have an outsize impact locally.
The D.C. government dropped its projection for how much the government will take in annually over the next five years, lowering its estimate by roughly $342 million because of a forecast for “sharp declines” in the federal workforce.
Internal data from Bank of America shows credit card spending in Washington has dipped since February, something the bank concluded was “likely due to the impact of DOGE cuts.”
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Read more: https://thehill.com/business/5223867-trump-federal-workers-firing/