Most families in Northern Virginia are still feeling the effects of a sluggish economy and a federal defense spending trajectory that remains uncertain. Last week, I visited with a husband and wife who expressed to me their concern that they won’t be able to stay in their home because his company may lose its federal contract. Despite the empty assurances of some politicians, people understand that there is still a need for caution and for restraint in local government spending just like the restraint they practice in their family budgets.
On August 15, Governor McAuliffe announced a $2.4 billion projected budget shortfall in the state budget that he attributed primarily to cuts in defense spending caused by federally mandated sequestration.
