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Author: joelcorley Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Re: Emergency Fund Date: 10/1/2013 8:14 PM
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SooozFool,

You wrote, So sorry, ThyPeace. I hope things are resolved soon and that when they are, backpay is approved to replace your efund.

I don't mean to express anything but sympathy toward ThyPeace ... but why would anyone other than a federal worker want this last part?

If my employer sent me home temporarily because they were having financial difficulties, I certainly wouldn't expect to be paid hours I didn't work. I'd just be thankful they were able to resume and give me my job back. Maybe that's just because I've always been a non-unionized non-government employee in at-will states. But why should there a different standard for federal employees?

And FWIW, historically no government shutdown has ever resulted in a net savings. Supposedly the '96 shutdowns cost the US $1.4B MORE than if they'd just kept everyone on the job. (That's just direct costs, BTW.)

The biggest effect I think the shutdown will have on the economy this time around is the use of E-Verify. Most major employers have switched to this system. My current job was contingent on my passing this screen. But right now the E-Verify site is down and won't be open again until this mess is resolved.

What will this do to employers? Potential new employees? How many employers have put a contingency plan into place for this? What potential new employee would? And finally what will this do to next month's job numbers? And how will that impact the economy and the stock market if a bunch of people wind up stuck between jobs? Or worse, people that were unemployed and would be employed, but their new employer won't let them start!

- Joel
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