With Congress failing to reach a compromise on the Continuing Appropriations Resolution of 2014 and approve Federal spending guidelines, the government was forced to shut down on October 1st.
Roughly 800,000 federal employees have been furloughed and are not working. However, 1.3 million federal employees have been designated as ‘essential employees’ are continuing to work throughout the shutdown, but will likely face indefinite paycheck delays. Additionally, overall economic worries are surfacing as IHS Global Insights, an economic consulting firm, has reported the United States economy will lose roughly $1.6 billion each week the government is shut down – approximately $12.5 million per hour.
While all of this is important to the economy, one question that remains is– how will this federal shutdown affect you?