Page 22 - The Sequester News Today

Youll get some kind of deal on that i think to avert it. >> you think for sure coming in august? >> yes. >> right, but i think its -- its not going to be the grand bargain. its not going to be -- >> i agree with you. >> -- the lets sit down and really plan this out. >> okay. can we take a look at the latest jobs report because it was pretty weak, and id like us to take a listen to what one of my colleagues at cnbc said. >> if we have another bad year and if unemployment doesnt come down, its goi...

The dow did close at a lower point, and wall street wasnt the only one scrambling. a lot of economists were scrambling to make these other revisions to the economy. they had anticipated growth being at about 3% for the year. theyve revised it down to 2.2%. >> so what are the sectors that have lost or gained jobs? >> well, there are two sectors. it was retail and manufacturing. now, retail, they didnt add jobs. they added -- they actually declined jobs about 24,000 of them, and also manufacturing...

Been a slow improvement. ill have that report at 8:30 a.m. eastern time. well see if the sequester, the timing of easter, the cold weather, all these things that economists and market watchers look at closely to see how they play in the numbers. >> this is like live sports coverage of financial breaking news. this is my own ncaa tournament. no good film is too long, no bad movie is short enough. words of incredible wisdom from legendary film critic roger ebert who died yesterday after a long b...

Being affected the most? >> almost every sect juror showed slower growth or job losses last month. professional and businesses services rose by 51,000 jobs, education and health jumped by 44,000. but manufacturing dropped by 3,000. retail jobs fell by 24,000. maybe because of that -- in part because of the 2% increase in payroll taxes on january 1st. that might have trimmed some consumer spending. construction added 18,000 jobs, but that was much less than the 50,000 jobs that it had added in fe...

Implemented for medicare and no one thought it would cut the fixed drug costs in terms of that. practices are are deciding what do they do now and it as real dilemma. >> greta: all of these medicare patients paid taxes for decades. they have been good citizens and expected their medicare and congress said when they passed all these laws that they werent going to lay a glove on o the medicare. in the sequester they werent going to lay a glove on the medicare but they were so stupid the way they w...

Clinics across the country are turning away thousands of medicare patients. they are blaming the sequester is. ted joins us. tell me, ted, why are the cancer centers turning away medicare patients? >> well, the problem is, greta, is that the sequester cut medicare across-the-board by 2%. and the biggest problem here with cancer clinics is unlike cutting services by 2% that physicians provide it is cutting the underlying cost of the drug. you are talking about taking a fixed cost for a drug that ...

We -- >> greta: come back to town. >> come back to town. >> greta: stop the trips. stop the fund raising. you know, stop taking your two week vacation for the problem you created for everybody else. come back and do your job you got elected for because it is painful what they are doing to the medicare cancer patients and their familys. >> we shouldnt put cancer patients in the way of politics and that is the problem that is happening right now. we have to get cancer patients out of that. especia...

Budget cuts that congress approved and the president signed, and if it was hitting government contractors and defense companies last month, you did not see much evidence of that in this report. these will be companies in manufacturing, information services, and technical services. they did not get hit hard last month. now, federal government jobs fell by 14,000, but most of that was the postal service, which is not covered by the sequester. >> all those tax increases likely had an effect as well...

Cold weather, i mean, you know, get out the tiniest violin in the world. >> the sequester, cracking poo me up. the government losts 7,000 jobs? you blame it on the sequester? martha: no way this kicked? >> then payroll tax. retailers lost 24,000 jobs of payroll tax. i go with that a bit. people are bringing home less money and spending less at restaurants and retailers. i can see that. i dont think that much this quickly. >> the sequester did have an impact. it had a small immediate impact. busi...

Are down, as well. alan kruger, chair of the presidents council of economic advisors. obviously, a report that youre probably not very satisfied with. what is the most disappointinga is the most disappointing part of this jobs report? >> chuck, every month i try to look at the bigger picture but i dont think its any different. if washington avoids policies that will slow us down, like the sequester, that will help us to continue to recover. >> are you concerned that the pattern is the same in 10...