Originally Posted By: Mark_R
How do you prepare for having zero income, or having a sizable chunk of the population having zero income at the same time? Many of these folks took 20% pay cuts during the 2013 sequestration fuloughs.

I really want to answer this question, but there's no easy answers except short term stop gap measures, like having an emergency fund. The subprime meltdown in 2007 and financial crisis in 2008 demonstrated how quickly booming industries can dry up in the blink of an eye (construction, mortgage lending, real estate, etc.) and many of those jobs have not and will never come back within any reasonable time period. Government hasn't really changed as quickly as the private sector, but who knows if that will always be the case.

I doubt any government shutdown will have any remotely similar effect, but just saying that trying to be prepared and diversified, employment-wise, can be tricky in today's lean, just-in-time climate. Many of us may already be working more than one job, which might cushion any blow, if we're still getting the income from the other job(s).

Being flexible about moving where the jobs is another tactic, but with kids or an underwater mortgage, not really practical for many people.