Consumer confidence lowest since 2021

[disneysteve]

2 million employees, let's say average salary is $100k. That's 200 billion.

You're pretty close. Various sources report the total Federal payroll at somewhere between $280 and $300 billion. That's about 4% of the entire Federal budget. That's how much would be "saved" by firing every single employee: 4%. However, that "savings" would quickly disappear because you'd then need to hire new people to do all of the work and they would likely be private sector workers who earn considerably more than government employees for doing the same jobs.

[EasyMoney00]

You're pretty close. Various sources report the total Federal payroll at somewhere between $280 and $300 billion. That's about 4% of the entire Federal budget. That's how much would be "saved" by firing every single employee: 4%. However, that "savings" would quickly disappear because you'd then need to hire new people to do all of the work and they would likely be private sector workers who earn considerably more than government employees for doing the same jobs.

Exactly. When my wife took the Fed job 11 years ago she knew her pay would be significantly lower than the private sector. The selling point was more of a work/life balance. She enjoyed her job for a while. It's been touch and go for the past couple years. Her group has slowly been shrinking and taking on more work at the same time. Then, all of this happened.

Another big issue no one really cares or talks about is the talent that will leave. In her organization, it takes years to become proficient. This idea that all of these workers can simply be replaced with competent people is false.

I guess the plus side is she made it 10 years and her pension is locked in. It's not a ton but something extra when she reached the later years. We are also fortunate that we do have money saved and we could nearly pay everything with just my salary. Plus I could pick up health insurance through my work. Some people she works with are the sole providers while the other stays home with young kids. I really feel for them. It's scary.

[disneysteve]

Another big issue no one really cares or talks about is the talent that will leave.

Totally. Cutting new hires, while awful, at least makes a bit of sense. Firing long-time experienced highly trained and competent professionals to save pennies (in the big picture) makes no sense at all. It's the definition of short sightedness. Save a dollar now but have it cost you ten or a hundred or a thousand dollars later.

[disneysteve]

I guess the plus side is she made it 10 years and her pension is locked in.

I'm sure that thousands of workers who have already left won't ever be back and thousands more who are still employed are actively seeking private sector positions. I certainly would be applying for every job opening I could find if I was a Federal worker right now.

I hope your wife is aggressively looking for a job and I wish her luck finding one that actually values her talents and contributions.

[EasyMoney00]

I'm sure that thousands of workers who have already left won't ever be back and thousands more who are still employed are actively seeking private sector positions. I certainly would be applying for every job opening I could find if I was a Federal worker right now.

I hope your wife is aggressively looking for a job and I wish her luck finding one that actually values her talents and contributions.

Applying for jobs is slightly more difficult than it should be. She would have to notify them that she is actively seeking employment. I believe they would then no longer give her any new cases to work on. I assume to prevent insider trading? Not sure. She's a little spooked that it could possibly give them incentive to get rid of her.

She along with her coworkers are hoping after a couple months when the dust settles they start allowing people to work a few days from home, like they used to. The problem is no one has a crystal ball so God knows if that will even be an option in the future.

There is so much uncertainty at the moment. Everyone would be better off if they were given clear instructions rather than these vague tweets or strange emails getting blasted out. Uncertainty is such a productivity killer.

[disneysteve]

Applying for jobs is slightly more difficult than it should be. She would have to notify them that she is actively seeking employment. I believe they would then no longer give her any new cases to work on. I assume to prevent insider trading? Not sure. She's a little spooked that it could possibly give them incentive to get rid of her.

She along with her coworkers are hoping after a couple months when the dust settles they start allowing people to work a few days from home, like they used to. The problem is no one has a crystal ball so God knows if that will even be an option in the future.

There is so much uncertainty at the moment. Everyone would be better off if they were given clear instructions rather than these vague tweets or strange emails getting blasted out. Uncertainty is such a productivity killer.

Honestly, if I were in her shoes and being without a paycheck for some time was manageable, I'd quit in a heartbeat. There are plenty of ways to earn money on the side while looking for a new job.

[Petunia 100]

I have 2 theories and you and Petunia just covered them both. Since our economy is based on people spending money, what better way to blow dough? More building leases, more fuel consumption, more wear/tear on vehicles, more buying lunch or after hour drinks/food, more hotel bookings, more shopping at local businesses, etc etc.

I think the more likely scenario is privatizing things. I'm not sure how this would play out but there would certainly be crazy amounts of money at play.

If people would do simple math, cutting feds would barely make a dent in the budget. 2 million employees, let's say average salary is $100k. That's 200 billion. Let's say you get rid of half the employees, which would cripple everything but let's get wild. So you saved $100billion. When the yearly budget is 6 trillion plus, it's a joke what they can save on employees. All at the risk of destroying everything. The risk/reward doesn't make sense. Something just doesn't smell right. My conspiracy senses are twitching.

So how do you feel about the firings? Or the (alleged) redistribution of public funds to private entities? You have seemed quite supportive in other posts, but in this one you do not.

[EasyMoney00]

So how do you feel about the firings? Or the (alleged) redistribution of public funds to private entities? You have seemed quite supportive in other posts, but in this one you do not.

I'm not in support of some of the really dumb spending. I think it's disgusting that it seems like some money is being distributed in a circular manner...public funds ending up in the hands of the people who originally passed it out. That's disgraceful, but not shocking.

I will preface that I do not vote. If I did, I'm definitely more conservative than liberal, but more towards the center. I have no issues calling out the conservatives for poor choices they're making. Actually, I find it disturbing when someone can't call out their own party. I don't subscribe to cult like behavior, on either side. I see more and more that their "team" can do no wrong. Thats BS in my book.

As for the Fed employee shrinkage happening, I probably wouldn't be so involved if I didn't have an insider telling me how her meetings are going and how things are being communicated. It's all been done with very little thought process. I don't see any way how downsizing is beneficial. Imagine a world where private entities regulate private companies. Not good.

[EasyMoney00]

Good to see the market up today. I read the s&p was down 2% for the month of February. Could have been worse I suppose.