WASHINGTON, DC-President Obama is returning toWashington DC in the hopes of forging a deal--anydeal--with Congress over the fiscal cliff. The nation eyes areon the Capitol as this drama plays out as the impact will be widelyfelt—but perhaps most acutely of all here in Washington.
In a recent report Cassidy Turley's GarrickBrown examines the impact DC will feel. He devotes a goodamount of word count to the subject, including charts, but his takeon the subject can be summed up with the word "painful."
Nationwide, he wrote, under the sequestrationscenario, government expenditures for contractors will bereduced by 9% in 2013, turning the contractingworld on its head, possibly resulting in 18.7 millionsquare feet of unused space.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
