Virginia Small Businesses, Families Brace For Recession As Glenn Youngkin and Winsome Earle-Sears Support Trump’s Attacks

From the Democratic Party of Virginia:

Virginia Small Businesses, Families Brace For Recession As Glenn Youngkin and Winsome Earle-Sears Support Trump’s Attacks

A new Washington Post/George Mason University poll reveals that 8 in 10 Washington-area residents say the Trump administration’s cuts to the federal government will hurt the regional economy and are bracing for economic impact. Despite warning signs of a “painful slump,” as the Washington Post reports, Glenn Youngkin and Winsome Earle-Sears continue to double down in support of Trump’s attacks on Virginia’s economy and workforce.

Last week, Youngkin admitted that Trump is already costing Virginia, cutting $900 million from the budget to prepare for the fallout from his attacks on Virginia’s workforce and tariffs. Despite this, he has continued to say that cuts to government spending and the workforce are “necessary.” Earle-Sears has even dismissed the concerns of Virginians who are feeling the effects of the layoffs, saying “the media is making it out to be a huge, huge thing…and I don’t understand why.”

Washington Post: D.C.-area economy starts to show deep impacts of federal spending cuts

• “The D.C. region’s economy is teetering on the edge of a painful slump, experts warn, as the Trump administration’s spending cuts, including the elimination of thousands of federal jobs, take their toll on an area that was already struggling to recover from the impacts of the pandemic.”
• “[…] In Fairfax County, Virginia, unemployment jumped from 2.2 percent in December to 3.2 percent in March. ‘And we haven’t seen the worst of it yet,’ said Jeff McKay, chairman of the Fairfax County Board of Supervisors, noting the lagging data.”
• “McKay said this economic crisis is probably the worst he has seen in 18 years on the board. ‘It’s neck and neck with covid,’ he said. ‘I think it’s worse than covid because we’re not going to get any help.’”
• “Spending at major retailers in the D.C. region declined by 2 percent in April as consumers began to pull back on purchases amid the job losses and worries about stagflation triggered by Trump administration tariffs, according to analysis of credit card transactions from Earnest Analytics.”
• “[…] The region’s dependence on federal employment leaves the area uniquely vulnerable to the kinds of cutbacks that are now taking place. More than 17 percent of the region’s employed residents work for the federal government, including 22 percent in D.C., according to the Metropolitan Washington Council of Governments. Many more area residents work for contractors and other employers that depend on the government for business.”
• “Residents in the region are feeling uneasy. About 8 in 10 Washington area residents say the administration’s cuts to federal programs and jobs will hurt the regional economy, according to a poll conducted over the past two weeks by The Washington Post and George Mason University’s Schar School of Policy and Government.”
• “More than 3 in 10 say someone in their household worked for the federal government or a federal contractor at the beginning of the year, and of those, about a quarter say the employee or contractor had been fired, laid off or put on leave.”
• “[…] At Busboys and Poets, a restaurant and bookstore chain with eight D.C.-area locations, business has declined about 3 percent this year after years of steady growth, owner Andy Shallal said.”
• “‘People are spending less — even if they’re going out, instead of a $24 entree, they may get something from the happy hour menu for $6 or $7,’ he said. ‘I’m not sure where this is heading. D.C., in particular, is so dependent on the federal government. It’s the thing that’s kept us from going into a deep dive, but now that safety net is gone.’”
• “As the region reels from cuts to the federal workforce, it’s also bracing for the relocation of jobs from the capital area. The Trump administration gave federal agencies an April 14 deadline to submit any plans to move offices out of the region to ‘less-costly parts of the country’ […]”
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