Basic services would continue under federal shutdown
The federal government may end up in a temporary shutdown on May 16 due to the battle over a spending bill. Even with a shutdown, not everything will shut down. Some things will continue. Since the United State USPS is self-financed for probably the most part, it will continue to operate. MSNBC reports the any services in the government "involving the safety of human life or the protection of property" won't be shutdown. There will even be Social Security benefits continuing.
No more pay for government workers
Government employees are the ones that are going to lose probably the most. It will even not impact the military or air traffic controllers. Nobody has to worry about safety. However, employees in agencies that are involved in clerical, managerial or financial roles will most likely be put on a furlough. Still, there was pay frozen for several employees already. The Obama administration put these pay freezes in place. Contractors who work for the government, several of whom are small businesses, may also lose revenue, according to the Wall Street Journal. There may not be any money reimbursed to contract workers.
Preparing for shutdown
There were plans in place already. Many were prepared for a government shutdown. The Credit Union Times reports that any members on temporary federal government shutdown layoffs will be able to get zero percent interest furlough loans from the Cabrillo Credit Union in San Diego. Check your local credit union to see if they offer a program like this. There were several offered during the 1995-1996 shutdowns that occurred. If the shutdown does occur, Treasury Secretary Timothy Geithner has said he would not rule out dipping to the Social Security Trust Fund and other sources to keep some government services fiscally viable until the shutdown subsides, according to Reuters, which means that some employees and services may continue to be funded.
Wall Street Journal
Credit Union Times