Michael Galletly, a Utah employee of the Department of Agriculture, spent almost two hours last week going through his wife’s expenses and planning how they would survive the government shutdown.
Mr. Galletly, the president of American Federation of Government Employees Local 4016 and an IT management specialist who was placed on unpaid leave this month, stated that it would be possible to make it two months, perhaps three lean, very lean months. But I have no idea how long this will last.
The standoff has already hindered travel, government loan and permit approvals, and museum closures.Analysts predict that the effects will begin to spread more widely when millions of federal employees begin to miss paychecks this week and cut back on spending in response.
Regarding the government shutdown and its effects on the overall economy, we’re at a turning moment,” stated Stash Graham, managing director of Graham Capital Management. There are already indications that consumer and corporate confidence has declined, which could be a warning of future economic deterioration.
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