Breaking News: Government Shutdown

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Automatic federal budget cuts, known as the sequester, which began March 1, have had minimal impact on federal regulatory agencies, finds a new report on the U.S. budget for fiscal years 2013 and 2014.

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The summer sequester effect on federal employee morale could potentially leave a gaping hole in the federal workforce for years to come due to the brain-drain from federal ranks which may ironically end up costing the government more in the long run says American University's Robert Tobias.

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On May 7, 2013, NCI Director Harold Varmus sent an email to all NCI grantees informing them of reductions to NCI’s budget for fiscal year 2013. The reductions, due in large part to sequestration, are spread across NCI’s portfolio to protect NCI’s ability to issue new and competing research project grants.

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ATS 2013, PHILADELPHIA – Innovative and potentially game-changing clinical trials to develop new drug regimens to prevent and treat tuberculosis (TB), the second leading global infectious disease killer, are in jeopardy due to federal "sequestration" funding cuts.

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Fred Hutchinson Cancer Research Center, one of the nation’s top cancer research and prevention centers and pioneer of bone marrow and stem cell transplantation, today called on Congress to support restoring full funding to the National Institutes of Health (NIH), which supports pioneering research that saves lives. Funding was recently cut due to sequestration.

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Physicians and patients alike are feeling the impact of Medicare reimbursement cuts that went into effect on January 1, 2013. With an additional 2% sequestration cut to roll out on April 1, it’s likely that physicians who treat Medicare patients will be faced with difficult decisions as operating margins continue to shrink.

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The Dow Jones Industrial Average hit a record high Thursday. Is the surge odd given that the federal government’s forced spending cuts are now a reality? Is it due to other world markets not rebounding quickly? Will the drop in the market that has occurred Friday and Monday continue, or will February data on housing starts and building permits, expected to be released today, counter that trajectory? And what can those with a 401(k) or extra cash to invest expect in the weeks and months ahead?

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The federal budget sequester went into effect March 1 after a lack of Congressional action to avoid the automatic spending cuts. Effective April 1, Medicare payments to hospitals, doctors, and other health care providers will be reduced by 2%.

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Ronald M. Levin, JD, administrative law expert and professor of law at Washington University in St. Louis, recently testified on the REINS Act before the House Subcommittee on Regulatory Reform, Commercial and Antitrust Law. “Under the REINS Act, the dysfunction that now afflicts Congress in the enactment of laws would spread to the implementation of the laws,” he says.

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As the federal government assesses an $85 billion reduction in its 2013 budget, an included 2 percent Medicare cut will hurt beneficiaries who need medical eye care, according to ophthalmologists – medical doctors who specialize in the diagnosis, medical and surgical treatment of eye disease. In a survey conducted by the American Academy of Ophthalmology, approximately 72 percent of responding member physicians predicted they would be forced to make decisions that will negatively affect the ability of their Medicare patients to receive the highest quality of medical care.

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