Economic Fallout From Sequester Cuts May Widen Amid Bottlenecks - (chaotic lines at MIA)
** The lines at customs in Miami were endless yesterday with 2-3 hour waits and chaotic improvised areas to reschedule the resulting missed flights. The officials I spoke with said "due to budget cuts". 25% of the booths were empty. If you look at articles on this they're likely to be right leaning "articles" that say there is no impact or the impact is being exaggerated.
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http://www.bloomberg.com/news/2013-03-07/economic-fallout-from-sequester-cuts-may-widen-amid-bottlenecks.html
Lines more than doubled at some of the nations largest airports on the first weekend after the across-the-board spending cuts took effect on March 1. Importers of tomatoes, peppers and eggplants braced for delays at border crossings as the Department of Homeland Security cut overtime to save money.
The impact is almost certain to grow after agencies begin to furlough workers, which requires a one-month notice. If there are further logjams at border crossings, at terminals for air passengers and at food plants that dont have enough inspectors, the ripple effects could reduce economic growth and hurt jobs and profits more than has been generally estimated. Thats a possibility that seems to have been ignored on Wall Street, where the Dow Jones Industrial Average surpassed its 2007 record on March 5.
Macroeconomic forecasts of sequestrations impact dont take into account the ripple effects from actions that interrupt business activity. Based simply on the drop in government spending, the Congressional Budget Office estimates that there will be 750,000 fewer jobs and that the economy will be 0.6 percentage point smaller with sequestration than without it in 2013. Business interruptions might push those estimates higher.
There could be a domino effect, as often happens in air travel, in which a delay in one location cascades into delays or cancellations far from the source of trouble.