420,000 employees will go without pay during government shutdown

Washington's rapprochement that led to a partial closure of the US government could have major political repercussions for President Trump and Congress. But the most immediate impact would be felt by the large number of workers who would be forced to go without pay until the end of the stalemate.

According to a report by the Senate Appropriations Committee, more than 420,000 federal civil servants are expected to work without pay . According to the committee's estimates, an additional 380,000 people would be made redundant – which means they are sent home without pay.

The financial burden could be heavy if the closure lasted "very long," as threatened by Mr. Trump . The longest government shutdown occurred during President Bill Clinton's tenure, also during the holidays, and continued for 21 days.

The stops since have been much shorter. But these are not holidays for employees. In case of closure, the federal employees concerned will not be paid for the week of December 23 to January 5 "until the expiry of the open credits", in accordance with the instructions given to federal employees by the Office of the management and budget.

Traditionally, Congress reinstated wages for government closures.

Some lawmakers said earlier Friday that the risk to federal employees was exaggerated. Pennsylvania Pennsylvania representative Scott Perry told Politico that no-effect holidays had no impact, as employees usually got their salaries back when Congress reached an agreement and the government reopened.

"Who lives that they are not going to get to the next paycheck?" he asked journalist Sarah Ferris, according to a tweet .

Union leaders disagree. One stop is " personally regarding this time of year for employees who start traveling to celebrate holidays with family and friends," wrote Anthony M. Reardon, President of the Union of Treasury employees, Congressional leaders this week.

Reardon adds that closure complicates the work of agencies such as the IRS before the tax season, as well as Customs and Border Patrol, in the face of trade and immigration

Employees also worry about a salary freeze budget proposal for the 2019 fiscal year.

"The impending closure could be devastating for the men and women who provide security and the cleanliness of our federal buildings, "said Jaime Contreras, vice president of the SEIU chapter of the Washington DC area, as part of a statement issued by several unions. this week.

The economy will not fall, but markets could

Spending on mandatory programs, such as social security, would continue if the government partially withdraws, while the United States would continue to repay its debt . But a longer shutdown should be evaluated sector by sector to determine if the nation's finances would suffer, said William Foster, chief credit officer of the Moody's debt assessment firm's Investors Service.

Closure Is Not Likely to Cause Significant Damage to the Overall Economy, Have said Capital Capital analysts in a note to customers. But for investors, this could fuel "the fear that the government's dysfunction will only exacerbate the impact of trade disputes and other instabilities," adding to worries already torpedoing financial markets .