"Federal workers will bear the brunt of the stalemate. During the 2018-19 shutdown, which lasted 34 days, nearly 800,000 federal employees were either furloughed or were forced to work without pay. Additionally, active-duty military personnel will likely forego pay during a shutdown. This time around, the OMB has threatened mass firing of federal workers, which would increase the numbers. All government and military workers' wages will eventually have to be repaid when the government reopens."
"This is an emergency, so use that fund first. If you deplete it, you may need a short-term lifeline to bridge the gap. Before you run up your credit card balance, consider a home equity line of credit or borrow from your retirement accounts. Do notify credit card companies, landlords, mortgage servicers or anyone you owe money to if you think that you are going to be late or miss a payment."
"All three are authorized through separate laws, so checks and benefits will continue to flow. Military pension benefits will be paid, and Veterans' Hospital facilities are expected to remain open. Likewise for recipients of other benefits like the Special Supplemental Nutrition Program for Women, Infants, and Children, (WIC) and Supplemental Nutritional Assistance Program (SNAP) benefits. However, enrollment in all of these programs could be delayed due to staff reductions."
Federal workers face furloughs, unpaid work and possible mass firings, with wages to be repaid when the government reopens. Active-duty military personnel may also forgo pay, while military pensions and Veterans' Hospital facilities are expected to continue. Federal employees without pay should use emergency savings first, consider short-term credit options such as a home equity line or borrowing from retirement accounts, and notify creditors or servicers if payments may be missed. Social Security, Medicare and Medicaid payments will continue because they are authorized separately, but new enrollments and program administration could be delayed due to staff reductions.
Read at www.mercurynews.com
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