Just FYI: Not Even a Government Shutdown Can Stop Ben Bernanke
First, it's obvious that even if the Fed were subject to the rules that apply to the "rest of" the "federal government" (insert air quotes and skeptical JDA expression here), Ben Bernanke and his posse would be considered "essential" to the "federal government" even in the event of a shutdown.
But since those rules don't apply, it's not even worth discussing, except to point out how funny it is that they get the .gov in the first place. The postal service, meanwhile, is constantly harassed by Congress and doesn't even get to use the .gov. Life's a bitch, ain't it?
As we all should know by now, the Fed does not need federal money to operate. In fact, part of the reason we are in this mess is because the federal government has to pay the Fed for our money. We'd have more of it if we didn't have to pay interest on it in the first place.
Meanwhile, this is what "the rest" of the "federal government" has to look forward to (via The Guardian):
The US Congress has begun sending out letters warning staff they will be suspended from this weekend along with hundreds of thousands of other workers as part of a looming federal government shutdown.Does this mean that I will actually be able to get from Point A to Point B in rush hour traffic without wanting to mow down a handful of bureaucrats in their Lexus SUVs along the way? Bring on the shutdown!
The letters inform staff whether they are regarded as essential – necessary to maintain security and keep Congress running – or non-essential. The process will be repeated at the White House, the Pentagon and hundreds of federal agencies that are preparing to scale back or cease operation from midnight on Friday.
The Democrats and Republicans failed on Thursday to end the stalemate in their budget dispute that will see the federal government shut down.
Comments Theodora Wells, one such non-essential government employee, via HuffPo:
I am one of those so-called "non-essential" federal workers, so this shutdown would affect me as well. I would prefer to keep the government running so that I can continue to receive a paycheck. But there are some very valid points made in this article, and it feels that those who can afford it least will be made to suffer even more. The poor will pay the price for cutting spending. Class war, anyone?Really? Does Ms. Wells understand that the federal government simply cannot afford to pay her and 800,000 other federal employees and that, in the long run, continually pushing the debt ceiling higher and higher robs us all? Talk about class war!
Better crank that printing press up to 11!