Govt shut down

[Free bird]

Govt shut downs are irrelevant to earnings never amount to any financial damage. Media noise I guess.

 

[tinner2u]

Media noise? Or perhaps it's actually the news. Not all the news is a conspiracy.

 

[aja8888]

Media noise? Or perhaps it's actually the news. Not all the news is a conspiracy.

No, a lot of it is a twist on reality and some reporter's political opinion.

 

[pb4uski]

The news that I have seen on this has been pretty balanced... the sides are at odds over DACA/border security and each side will blame the other if they can't achieve a breakthrough before midnight tonight. Pretty simple.

 

[flintnational]

If the government shuts down, how do I get me free government cheese?

 

[GravitySucks]

It seems to me the ones that get screwed the most are those of us that visit national parks and forests.
Last shut down I was out west, signs up saying to stay out of parks and forest, but we could still hear lumber being taken down. Mining ops didn't shut down either.

 

[GravitySucks]

If the government shuts down, how do I get me free government cheese?

Think Martin Marietta's government checks will stop coming? I might want to stop investing in companies relying on government money.

 

[aja8888]

If the government shuts down, how do I get me free government cheese?

Just give Tom a call...

https://en.wikipedia.org/wiki/Tom_Vilsack

 

[trixs]

It seems to me the ones that get screwed the most are those of us that visit national parks and forests.

I would argue that the 1.3 million active duty military, whose pay will be delayed, suffer the most.

 

[Sasset]

I don't get how DACA is part of the budget. DACA has until March 5th. The budget is now.

 

[ERD50]

The news that I have seen on this has been pretty balanced... .

Though I have nothing scientific to go on, my subjective impression is that the reporting on this subject has been far more balanced than about 99% of what comes across my computer/radio/TV.

Unfortunately, that's a very, very low bar

To the OP: It is news though IMO, I wouldn't call it noise. Is it blown out of proportion, and will it likely have little effect on the markets? Yes, I think so.

But there are effects, as others have mentioned. Though the pay for some is delayed, not reduced/eliminated, but that certainly is a hardship for many.

-ERD50

 

[ERD50]

I don't get how DACA is part of the budget. DACA has until March 5th. The budget is now.

That's the "sausage making" aspect of it.

-ERD50

 

[harllee]

My sister works for the federal government and every time there is a government shutdown her offices closes. While the shutdown continues she does not get paid. Usually she will eventually get paid but it normally takes weeks/months.

Once I was trying to sell my house and there was a government shutdown and the closing had to be delayed because the purchaser was getting a government loan. Caused a hardship for me a that time.

A lot of people are joking about this but a shutdown can cause a real hardship for people. The legislature has know this is coming, why can't they agree on something. Why can't they govern?

 

[USGrant1962]

According to a number of sources there have been 18 government shutdowns since the current budgeting rules were enacted in 1976. IMO it is just politics and will have little/no effect on the markets.

Other effects (delayed paychecks, closed parks) are real but likely to be very short-term. They may not even happen as a lot of that is up to the Administration.

 

[Teacher Terry]

People that work for the feds should anticipate this happening and make sure they have savings to cover themselves. When we were young my DH would get laid-off occasionally and it was no surprise as it was a boom and bust industry. Some people would whine they could not pay their bills,etc. WE saved $ so it was no problem.

 

[donheff]

But there are effects, as others have mentioned. Though the pay for some is delayed, not reduced/eliminated, but that certainly is a hardship for many.

-ERD50

A lot of government work is performed by contractors, They don't get paid if they are sent home unless their employers cover them. WHile Federal workers who are sent home have been paid in the past there is no guarantee - this time could be different.

 

[mpeirce]

A lot of people are joking about this but a shutdown can cause a real hardship for people.

If someone working for the government or using government services doesn't anticipate this, they are pretty slow. It's happened many times before and will happen may times in the future.

The legislature has know this is coming, why can't they agree on something. Why can't they govern?

It's leverage. Congresscritters look for anything that gives them some leverage over those that sit on the other side of the aisle.

They wouldn't do it if it didn't work (at least to some extent).

My attitude is to ignore it as best I can.

 

[GravitySucks]

I would argue that the 1.3 million active duty military, whose pay will be delayed, suffer the most.

That certainly would be.
I thought that was the threat last time but it did not actually happen.

 

[aja8888]

Do the congressmen get paid when the government shuts down?

 

[Alan]

Do the congressmen get paid when the government shuts down?

Yes, I think.

https://www.washingtonpost.com/news...affers-dont-heres-why/?utm_term=.7bb43c91aeaa

Here's the background: The government shutdown only affects agencies and employees that are funded through annual appropriations. But that doesn't apply to members of Congress. Salaries for members of the House and Senate are written into permanent law. (Members in both chambers currently make $174,000 a year.) That's why politicians get paid even in the event that Congress can't agree on a bill to fund the government.

 

[folivier]

So if a government employee gets sent home during the shutdown without pay, but later gets paid for that time, isn't that a paid vacation?
Seems like it's better than a layoff when someone is working in private industry. Been there!
Trying not to be political and not blaming either party because BOTH parties are to blame.
Oh yeah, I heard that the congress will get paid...

 

[GravitySucks]

Yes, I think.



https://www.washingtonpost.com/news...affers-dont-heres-why/?utm_term=.7bb43c91aeaa

Thank goodness. One less thing for me to worry about this weekend.

 

[Red Badger]

I would argue that the 1.3 million active duty military, whose pay will be delayed, suffer the most.

+1. And yes,their pay stops unless congress passes a seperate bill to fund military pay. Retiree pay, however, continues. I am a retiree and that is just backasswards.

Many junior enlisted families are truly paycheck to paycheck or worse. And often exacerbated with the military member deployed to some sh!thole country across the globe.

But other than that, its a snooze fest. Yawn, zzzzzz.

 

[Walt34]

So if a government employee gets sent home during the shutdown without pay, but later gets paid for that time, isn't that a paid vacation?

It sure is, but that is not guaranteed to happen although that has been past practice. Federal employees vote too and congresscritters are very much aware of that.

Both my ex and DW were federal employees and both did at one time or another get a short paid and unplanned vacation.

 

[harllee]

According to a number of sources there have been 18 government shutdowns since the current budgeting rules were enacted in 1976. IMO it is just politics and will have little/no effect on the markets.

Other effects (delayed paychecks, closed parks) are real but likely to be very short-term. They may not even happen as a lot of that is up to the Administration.

NPR just said that this government shut down would be the first time ever when one party controls the House, Senate and the White House, so it would be a little different than the prior shut downs.