re: Serious question about Federal Employees missing paychecks

quote:

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Friend of mine is one of the "lucky" employees who still has to work but isn't getting paid. He's overdrawn on checking. The bank calls him 3-4 times a day to remind him to make a payment. He just took a $2,000 distribution from an old IRA he had, and cashed the check, because he doesn't want to put the check in the bank.

He's basically not paying any bills and using cash to pay for gas, groceries, etc. His credit card is just about maxed out.

And in the end, they are going to get all the money back they are owed from payroll. But, what about the tax and penalty he now owes on the IRA withdrawal? Even if he puts the money back into the account, he still owes it.

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I've followed your posts on the Money Board long enough to believe your above post is factual.

However, I have ZERO sympathy for your friend.

Any person who is healthy and has been in the workforce for a while but who has no savings for a short-term financial cushion completely deserves whatever financial angst he's going through. Especially in today's economy with under 4% unemployment.

Hell, I could walk down the street and have a temporary, part-time job paying me $9/hour before the end of the day today. I pay my yardman $50/hour!