General Question

miki's avatar

If the government shuts down, will other agencies take that in consideration?

Asked by miki (210 points ) April 5th, 2011

I was thinking of how many people will be out of luck if they need their jobs(living check to check) in order to take care of bills, mortgages etc. Some people may be fortunate enough have some emergency cash stashed away just for situations like these, but many haven’t. Will property management, and others who collect money monthly be lenient due to the govt. shutdown situation, or will they still demand money even knowing that so many will be out of work?

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15 Answers

tedd's avatar

Some may make special considerations, but you can bet a lot of them won’t.

marinelife's avatar

Notice that Congress is carefully after the entitlement checks on the first and will end any shutdown before the next month.

The outcry would be too great.

12Oaks's avatar

Lenders are willing to work with you. They help where they could to get you through and are generally right pleasant to deal with. Private lenders, anyway. They really make up a good community that other industries should model themselves after.

I never had to take out a loan, but negotiated with them on behalf of my mother-in-law after her faithful husband of 40 years passed away unexpectedly.

Cruiser's avatar

Leniency is commodity in short supply these days. Everybody depends getting their cash including landlords, mortgage companies, credit card companies and especially the government. The biggest kicker with this recession is the lack of cushion or savings people have set aside for tough times. This is what is hurting the recovery process and a government shutdown is only going to be another twist of the knife that is already so deep in so many.

CaptainHarley's avatar

@Cruiser

Whatever happened to “saving for a rainy day?” : ((

We are all so frickkin’ spoiled!

SpatzieLover's avatar

Will property management, and others who collect money monthly be lenient due to the govt. shutdown situation, or will they still demand money even knowing that so many will be out of work?
They will still need money to pay their own bills. If people don’t have a nest egg, that is their own fault.

Gosh, after the Tsunami/earthquake in Japan, my family sat down and planned out what we would do if something horrendous happened here. Yep, it involved all of our nest egg and then some.

CaptainHarley's avatar

@SpatzieLover

So far, I have spent about $5,000 on “contingency planning,” and will most likely spend another $10,000 before all is said and done.

Jaxk's avatar

Ask yourself if the government will be understanding about why your tax check is late. Or any other government payment for that matter. You may not be get leniency from you private creditor but you have a shot. Not so with the government.

SpatzieLover's avatar

@CaptainHarley I hear you. We have discussed spending a similar amount in the near future. Usually keep a good stock of food & water for us & the pets, too. We’re thinking we should have a bit more. ;)

CaptainHarley's avatar

@SpatzieLover

Probably. I am approaching having a year’s supply for the two of us, and want to have more if I can, for our grown children and grandchildren if they need it. I also am buying a generator, a gasoline storage container, a water storage container, a rifle ( already own two handguns ), a very comprehensive emergency and surgery kit ( my wife is a nurse and I am qualified as an EMT ), a supply of various sorts of seeds, and a passle of other stuff as well.

Right now, I’m looking for a way around my need for insulin. I use a rather small quantity each day, so perhaps I can lose enough weight to make up for not having any. Guess we’ll see, eh? : )

YARNLADY's avatar

The last time that happened the majority of the people did not notice any changes what-so-ever.

CaptainHarley's avatar

It’s rather like atomic power… most of the time you don’t even know it’s there, but the downside risk is so high that anytime it does intrude into your consciousness, it’s almost enough to give you the shakes!

12Oaks's avatar

I would kind of like for the guy who steals all that Social Security from our paychecks to take a permanent vacation. Of course, I’d like for him to pay us all back in full first. The mailman could never return as well. 100% of what he litters at my house goes right into the recycling bin without even looking at it, so I wish he would save everyone the trouble and just stay away. Use the post office dumpster to toss the garbage.

But that’s just me.

CaptainHarley's avatar

And it’s only going to get worse.

In March, the U.S. government grossed $194 billion in tax revenue and paid out $65.9 billion in tax refunds, netting $128.179 billion.

Over the same time, the government spent $1.1 trillion (net of the tax refunds). In other words, the government spent 8.2 times what it made in March. And where did most of that money go? To buy Treasury bills. The U.S. government spent $705.3 billion redeeming matured paper.

In a Senate Budget Committee testimony, Erskine Bowles – former chief of staff to President Clinton and current co-chair of Obama’s National Commission on Fiscal Responsibility (how’s that for an oxymoron?) – said of the current situation, “I’m really concerned. I think we face the most predictable economic crisis in history. A lot of us sitting in this room didn’t see this last crisis as it came upon us. But this one is really easy to see. The fiscal path we are on today is simply not sustainable.”

12Oaks's avatar

@CaptainHarley To be fair, refunds really isn’t spending. It’s the government finally paying back what they shouldn’t have gotten int he first place. And they pay it back interest-free. They really do win out on that raw deal.

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