Posts Tagged ‘government Closure’
Furlough Farce
With federal workers averaging $108,500/year in salary and benefits, if all 820,000 furloughed federal workers never came back, the total savings to the Treasury would be $90 billion/year. In a budget of roughly $3.5 trillion, that’s just 2.6% of all spending. Even as a percentage of the $642 billion FY13 deficit, a reduction of $90…
Read MoreLoathsome Lawmakers
After excluding 590,000 postal employees and 1.4 million active military personnel, that leaves 2.15 million civilian non-defense federal workers. Should the government close, 40% of them, or 860,000, would stay home as they are non-essential. A one month shutdown would probably knock 1% off GDP and a two month shutdown would probably put us back…
Read MoreGovernment Closure as a Tactic
The 20 day State of MN government shutdown this July cost MN $60 million in lost revenue but saved about $65 million n salaries not paid, according the MN Management and Budget Department. Of course, the report failed to look at the damage caused to the state’s reputation. However, given that Gov. Mark Dayton (D)…
Read MoreNo Government, No Problem!
If the federal gov’t closes does it matter to the economy? NO! Social Security checks will continue arriving and air traffic controllers will still land planes. The fragile recovery will not be harmed. The most serious and negative consequence; a strong signal that the upcoming debt ceiling increase and FY 2012 budget battles will be…
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