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HomerinNC
I got an email from my bank, USAA, saying that if the shutdown isnt reverse or continues on thru the 17th of October, all those receiving fed checks are going to not be paid.
Is anyone worried? I get 100% from the VA and if we dont get paid for next month, I am screwed. My crediotrs arent going to use that as an excuse.
Anyone fully dependant on fed check? How are you preparing?
Active duty military did not get paid in 95-96 shutdown. We were in Germany with a 4 month old baby and my husband did not get Dec 15 or Jan 1 military pay. We had to borrow from relatives and pay them back when he got paid retroactively. It stunk. BAD>
I was on active duty at the same time as well, stationed up in Alaska, and dont remember missing a payday.
This was when Clinton was in office, right? This was when the Monica Lewinsky thing happened, correct?
Do not let the propaganda get to you, my husband is a retire Marine and he has not received yet any letters of any lapse on his check.
Still as of today all DOD personnel are back to work, SS checks, Medicare, Medicaid and disability can not be stopped even under a shut down I has posted plenty of information as why, is t under the law, so do not let the scaremongering get to you.
Dianec
reply to post by AlienScience
I appreciate your sharing all of that with me. It appears that some are confident the celining will be raised. If each side knows that this is only a bargaining chip and will ultimately raise the debt ceiling it would seem it isn't a real bargaining chip - simply because it is known they won't allow a default. So how does it become anything more than a game? It comes down to "who will be the hero and cave first?"
Are any that stubborn to not cave in? Who do you think will give in at the last minute? Again - it seems there is confidence that someone will since there is so much at stake.
edit on 7-10-2013 by Dianec because: Spelling issue and formatted differently.
AlienScience
reply to post by HomerinNC
It's not the shutdown that you need to worry about, it is the debt ceiling.
All the shutdown does is limit the government to operate on essential business only, which includes so called "entitlements". The government continues to collect taxes and can continue to sell treasury bonds to increase revenue. The shutdown just means that appropriations to specific projects have expired and no new money can be appropriated to projects/agencies...so those agencies/projects need to operate with the money they currently have. As the shutdown continues, more and more employees will be furloughed as they burn through their capital and more and more services will be discontinued. But checks going on should never be cut because those don't need funds appropriated to them.
AlienScience
palmalBlue2
reply to post by AlienScience
Have to ask.....does the Economic shutdown start on the 17nth or until we 'officially' run out of money and actually start defaulting on or near Nov.1st?
The actual debt ceiling was hit way back in May 2013. The Treasury has been using "extraordinary measures" in order to keep paying our bills. These include a lot of re-investments that the Treasury decides not to re-commit to...which screws us in the long run.
The "x date", or the date where the Treasure runs out of extraordinary measures is Oct. 17th. That is the drop dead date, that is the date where we run out of money to pay all of our bills. I think the last I heard we would be able to pay about 60% of our bills.
So the 17th is the date where the SHTF...there is no buffer after that.
crazyewok
reply to post by BobAthome
If the USA defaults there wont be any jobs for anyone excpect a very small minority of people.
Whole bank balances and saving could just go poof and disapear.
Read up on how dire things got in the great depression. Its not pretty and the USA resembled the 3rd world.
Hard work did not save the USA then, it was a world war and some of FDR social programs.
Imagine the caos if 50-70% of people in New York or Los Anegles or Chicargo Suddenly find themselfs out of work? Thats what will happen if the finacial sector collaspsese. Banks wont just cut back they will go bang. The million employed in this area will be screwed. Well excpet the ones at the top who will have there money in safe offshore acounts of course.edit on 7-10-2013 by crazyewok because: (no reason given)
Dianec[/i
I am under the impression our bank accounts are safe. These were protected after the Great Depression. Are you saying if the 17th comes and goes without resolution (unlikely) then we could see these emptied out? That sounds like theft to me.
Dianec
I am under the impression our bank accounts are safe. These were protected after the Great Depression. Are you saying if the 17th comes and goes without resolution (unlikely) then we could see these emptied out? That sounds like theft to me.