In the months since the sequester spending cuts went into effect, the nation's capital is really feeling the "sting" of shrinking government.
If you'll recall, President Obama and Democrats on Capitol Hill warned that the sequester cuts would mean lost jobs, failing bridges and general chaos in the streets. Here's the reality of what's actually going on, via the Washington Post:
In the months since the automatic federal spending cuts known as the sequester took effect, the Washington area has added 40,000 jobs. Income-tax receipts have surged in Virginia, beating expectations. Few government contractors have laid off workers.
It’s too early to be certain, but initial indications are that the damage from the sequester has been modest and slow to develop.
Labor Department statistics released Wednesday showed that the area’s unemployment rate held steady at a seasonally adjusted 5.3 percent in April, the same as in March. The pace of job growth from January to April was only slightly slower this year than last year. Large government contractors are reporting relatively modest revenue hits and few layoffs due to reduced contracts.