Perspective: Federal workers should save now in case of another shutdown in months ahead
President Trump unveiled his 2020 budget proposal this week, and it’s chock-full of clash-worthy requests. He wants to slash Medicare, Medicaid and Social Security. By Michelle Singletary Michelle Singletary Personal finance columnist Email Bio Follow Columnist March 12 at 3:59 PM I play tug of war with my 11-pound terrier mix, and it’s a battle in which the chew toy always loses.This, I’m afraid, has become life for federal employees and contractors during budget negotiations.
And let’s remember that the shutdown, which began Dec. 22 and ended Jan. 25, affected only part of the federal government. It affected about 800,000 workers, including active-duty military members. Although federal workers were eventually paid retroactively, many contractors and other businesses relying on spending by the government or federal workers will not get back lost pay or revenue.Some workers had to go to food banks.
But if you live paycheck to paycheck, that’s probably a daunting amount. From my experience, when people think something’s impossible, they often do nothing. If you asked your financial institution for leniency and didn't get any, find another banking relationship. If you don't belong to a credit union already, consider joining one.
You can’t count on crowdsourcing. During the shutdown, many federal workers accepted free meals or discounts. Some set up GoFundMe campaigns.
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