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Government shutdown

edited September 2023 in Other Investing
The government shutdown is inevitable and there is 5 days less. This is like a train wreck in slow motion.
https://npr.org/2023/09/26/1201557143/government-shutdown-house-republicans

US debts will face another round of possible downgrade from Moody? Will this impact the long bond yield and the stock market?
https://reuters.com/markets/us/moodys-warns-us-government-shutdown-would-be-credit-negative-2023-09-25/

What are your plans?

Comments

  • I have a little extra in MMs and my banking account. If the gov't shuts down, I don't expect it to last long.
  • I'll be at opening day for the Arizona Fall League. Peoria Javelina's on the road at the Scottsdale Scorpions, where my Cardinal prospects will be playing this year.
  • @dtconroe, probably won't affect individuals as much. Shutdown will however interpret air traffic control and business travel. Also active duty soldiers will not get paid.
  • The air traffic controllers are expected to report to work as usual but not be paid until the shutdown is over. That's expecting a lot, I think.
  • edited September 2023
    Mandatory spending (i.e. not in annual budget) are Social Security payments, Post Office, Ukraine aid (current), most military spending. These won't be affected.

    Everything else will be disrupted to some degree. Some essential federal employees will be called to work without pay for now.

    Congress will get paid for no work.
  • I don't expect it to last long, but if military, border patrol, ATC don't get paid, but have to work,
    then neither should Congress, the cabinet, etc be paid. Heard on TV this morning that the freeze on pay did include Congress.
  • So no change in the status quo for congress (i.e. getting a paycheck for not working)
  • Congress will get paid

    That's part of the Constitution: Article I, Section 6, Clause 1.
    https://constitution.congress.gov/browse/essay/artI-S6-C1-1/ALDE_00001044/

    for no work
    There's the problem. The Constitution doesn't require them to actually get anything done. It's aspirational.
  • banana republic.
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