Sign in to comment!



Smithsonian faces furloughs, cuts under Congress' budget


Oct. 1, 2013: Tourists read a sign informing visitors that all Smithsonian museums are closed due to the government shutdown outside the Smithsonian's National Museum of the American Indian in New York. (Reuters)

The Smithsonian Institution is facing a $65 million budget cut this year under automatic funding reductions approved by Congress. Officials say that could lead to furloughs or museum closings if the cuts persist for the year ahead.

Smithsonian Secretary Wayne Clough says the museum complex has trimmed its budget for the past year to absorb federal funding cuts but now may have to adopt more drastic measures. He says furloughs and temporary museum closings are up for discussion.

The Smithsonian Board of Regents met Monday to consider budget plans.

The Smithsonian also lost $4 million in revenue due to the government shutdown. The museums and National Zoo lost sales at retail stores, concessions, theaters and events.

Congress has approved a continuing resolution for funding into January.

Bank Rates

Loan Type Graph Rate +/- Last Week
30 Y Fixed Graph 3.84% dw 3.87%  
15 Y Fixed Graph 2.87% dw 2.95%  
30 Y Fixed Jumbo Graph 4.19% dw 4.22%  
5/1 ARM Graph 3.02% -- 3.02%  
5/1 Jumbo ARM Graph 3.65% up 3.37%  
Loan Type Graph Rate +/- Last Week
$30K HELOC Graph 4.44% dw 4.48%  
$50K HELOC Graph 4.04% up 3.96%  
$30K Loan Graph 4.55% dw 4.57%  
$50K Loan Graph 4.17% -- 4.17%  
$75K Loan Graph 4.17% -- 4.17%  
Loan Type Graph Rate +/- Last Week
36 M New Graph 3.08% dw 3.10%  
36 M Used Graph 3.30% dw 3.32%  
48 M New Graph 3.16% dw 3.18%  
48 M Used Graph 2.85% dw 2.88%  
60 M New Graph 3.10% dw 3.12%  
Loan Type Graph Yield +/- Last Week
6 month Graph 0.36% -- 0.36%  
1 yr Graph 0.61% -- 0.61%  
5 yr Graph 1.46% -- 1.46%