Captioning sponsored by wpbt this is n. B. R. Tom good evening. Im tom hudson. The sequester is here and the federal Government Spending cuts will soon be enacted. Susie im susie gharib. Good evening, everyone. Well look at what sequester means for the u. S. Economy, jobs and the markets and how long it may last. Tom one bright spot for the economy auto sales. February was another strong month of sales. Susie that and more tonight on n. B. R. Tom before midnight tonight, the sequester takes effect. Those automatic spending cuts will trigger federal government furloughs, cuts in government contracts and cut backs in federal services. Congressional leaders met with the president this morning to talk about the situation, but no one expected a break through and no one was disappointed. Our Washington Bureau chief darren gersh tonight on what happened and what comes next. Reporter by now, you know how this story goes. After the lastminute meeting at the white house, the speaker emerges grim
And maybe that will start to resonate out there with the American Public and maybe then well be able to move forward with some sort of more reasonable fiscal path to the future. Reporter by easter, hoagland expects the sequester pain will probably be bad enough to force some sort of compromise, if not how bad is it going to be . What im hearing from a lot of people is the feeling this whole sequester thing is way overblown, is it . Okay, play the washington number game with me for a minute. You heard the 2 number. Oh, its only 2 of federal spending over the next 10 years. Its no big deal. But theres another washington number which is because of the way the sequester is structured, its 10 to 13 in some programs this year. And thats going to cause some pain. Susie all right, well, talk us through this a little bit. I mean, you have said that the automatic spending cuts are going to be gradual. They officially kick in at midnight tonight. So talk us through what happens after midnight. Re
And maybe that will start to resonate out there with the American Public and maybe then well be able to move forward with some sort of more reasonable fiscal path to the future. Reporter by easter, hoagland expects the sequester pain will probably be bad enough to force some sort of compromise, if not how bad is it going to be . What im hearing from a lot of people is the feeling this whole sequester thing is way overblown, is it . Okay, play the washington number game with me for a minute. You heard the 2 number. Oh, its only 2 of federal spending over the next 10 years. Its no big deal. But theres another washington number which is because of the way the sequester is structured, its 10 to 13 in some programs this year. And thats going to cause some pain. Susie all right, well, talk us through this a little bit. I mean, you have said that the automatic spending cuts are going to be gradual. They officially kick in at midnight tonight. So talk us through what happens after midnight. Re
No one was disappointed. Our Washington Bureau chief darren gersh tonight on what happened and what comes next. Reporter by now, you know how this story goes. After the lastminute meeting at the white house, the speaker emerges grimfaced. The discussion about revenue in my view is over. Its about taking on the spending problem in washington. Reporter cut to the White House Briefing room. The president says hes been reasonable. Some tax cuts, some spending cuts and some entitlement reform. Thats his prescription for budgetary pain. And since republicans wont accept it, the president says the middle class is about to feel the pain of those automatic spending cuts known in washington speak as the sequester. I dont anticipate a huge financial crisis, but people are going to be hurt. The economy will not grow as quickly as it would have. Unemployment will not go down as quickly as it would have and there are lives behind that. And thats real. And its not necessary, thats the problem. Report
Yet Another Alexandria Office Building Is Planned For A Condo Conversion An old rendering showing Finmarc s vision for converting 801 North Fairfax St. to condos.
An Alexandria office building has sold to a buyer that plans to turn it into condos, the latest in a string of office-to-residential conversions in Northern Virginia.
Abramson Properties acquired the four-story, 66K SF office building at 801 North Fairfax St. from Finmarc Management for $13M, the seller announced Thursday.
Cushman & Wakefield s John Pellerito and Paul Norman Jr. represented Finmarc in the sale. Finmarc acquired the building in 2014 for $9M, property records show.
The buyer plans to convert the vacant office building into a 54-unit condo project, with construction expected to begin this year.