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Publications (click on icon below to download sample report)
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Impact of the Federal Budget Agreement on the Washington Metro Area
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Issued: Periodically
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Areas Covered: Washington Metro Area
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Description:
What impact does August 2nd's agreement on the debt ceiling and Federal budget have on the Washington area? No one knows for sure. But we have prepared a considered research paper on the topic, which you can subscribe to via the link below, that tackles this issue.
Some Highlights:
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The "spending cuts" from the August 2 deal to avert a government default will be implemented over ten years. In fact, changes to the Federal budget are not going to reduce government spending, but rather reduce the rate of increase in government spending.
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We project continuing Federal activity in the region, but its growth will slow to a muted pace of 0.6% per year through 2015. This compares to a much more robust rate of 5% or 6% that we have become accustomed to in the recent past.
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We estimate that the region will experience job growth of 37,700 jobs per annum from 2011-2015 -- modest by standards of other expansionary periods. Most of this will be driven by a rebounding private sector. But more to the point, this level of growth is sufficient to support a healthy commercial real estate market if production levels adjust.
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Contact: Paul, Alexander (Sandy)
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Impact of the Federal Budget Agreement on the Washington Metro Area Today!
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