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Treasury to tap pensions to help fund gov't - 5/17/2011 8:55:47 AM

Louve00

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As the weather patterns get more and more absurd, it seems our politicians do too.

http://www.washingtonpost.com/business/economy/treasury-to-tap-pensions-to-help-fund-government/2011/05/15/AF2fqK4G_story.html

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For the great majority of mankind are satisfied with appearance, as though they were realities and are often more influenced by the things that seem than by those that are. - Niccolo Machiavelli

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 9:22:48 AM

willbeurdaddy

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quote:

ORIGINAL: Louve00

As the weather patterns get more and more absurd, it seems our politicians do too.

http://www.washingtonpost.com/business/economy/treasury-to-tap-pensions-to-help-fund-government/2011/05/15/AF2fqK4G_story.html

Theyve been borrowing from Social Security since it had a surplus. Why should FERS be any different?

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Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 9:32:46 AM

flcouple2009

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This is nothing but a game at the moment between the Democrats and Republicans.

They all need taken behind the woodshed till they start playing well with others.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 9:55:11 AM

servantforuse

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I wonder how the federal employees who supported Obama will feel about this ?

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 10:19:31 AM

EternalHoH

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Obama's doing it?

I thought the House controlled the checkbook?

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 10:29:09 AM

servantforuse

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Timothy Geithner works for Obama. Yes, Obama is doing this. Taking (stealing) money form a pension fund is not writing a check.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 10:43:35 AM

flcouple2009

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Which has to be paid back. So at the point that everything is worked out it will be put right back.

This is just crap from both sides.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 10:57:19 AM

SternSkipper

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This nothing new... here are the inventors...

http://www.washingtonpost.com/wp-srv/politics/special/budget/stories/congress093099.htm

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 11:00:37 AM

SternSkipper

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Timothy Geitner didn't invent the policy. It's been done in one way or another nearly every year since it's inception

http://articles.latimes.com/2001/sep/07/news/mn-43049

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 11:11:36 AM

servantforuse

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Just because the law says they have to pay it back, doesn't mean that they will pay it back. These crooks from both parties have been stealing from social security for years. That money is gone and will never be replaced. Anyone that believes otherwise is an idiot.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 11:15:32 AM

mnottertail

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Well it will be a republican house stealing it this time, and it will just be another day in a string of broken promises, failed policies and outright ineptitude, same as always for them.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 11:18:30 AM

servantforuse

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The Obama administration and the Treasury dept are doing it this time.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 11:25:12 AM

Louve00

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Because this is a tug rope game between repubs and dems. Democrats have to pay our bills somehow, despite the republicans wanting to default on our debt unless we don't raise taxes. Protecting those sacred few and big corporations again. If we don't raise taxes republicans will go along with raising the debt ceiling. I sure do wish I can get away with shit like that with my creditors.

_____________________________

For the great majority of mankind are satisfied with appearance, as though they were realities and are often more influenced by the things that seem than by those that are. - Niccolo Machiavelli

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Post #: 13

RE: Treasury to tap pensions to help fund gov't - 5/17/2011 11:25:50 AM

mnottertail

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They are moving money, from one pocket to another, not creating it. It will be up to the republican house to finalize a budget, if that does not include monies to pay whats owed, including intra and intergovernmental debt...they are the thieves.

The ultimate responsibility belongs to the house, the useless fucks there could just say no.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 12:19:42 PM

DomKen

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This wouldn't have occured in the GOP controlled House had simply done its job. The debt limit was reached without an increase in the debt limit being passed. The Executive branch is legally required to operate under the budget approved by Congress, which requires more money than comes in. That money should come from new debt but now we can't sell new debt so it absolutely must come from somewhere or we default on the debt that is due as well as fail at other things. A default will crush the world's economy in a way that could easily take decades to recover from so that isn't really an option.

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 1:14:05 PM

Termyn8or

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If you can't sell the debt, what is the difference between defaulting versus just continuing to devaule the currency ?

T^T

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RE: Treasury to tap pensions to help fund gov't - 5/17/2011 1:28:11 PM

mnottertail

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Since when haven't we been able to sell our debt? In for a penny, in for a pound, they gotta take the whole ride now.

< Message edited by mnottertail -- 5/17/2011 1:33:18 PM >

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Have they not divided the prey; to every man a damsel or two? Judges 5:30

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Post #: 17

RE: Treasury to tap pensions to help fund gov't - 5/17/2011 1:40:09 PM

EternalHoH

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quote:

ORIGINAL: servantforuse

Just because the law says they have to pay it back, doesn't mean that they will pay it back.

And that won't be Obama's problem.

When that check is held hostage, who will they be angry at?

As government employees, they have a choice of having their pension borrowed from, or be out of a job yesterday. You really think they are going to be more mad at the guy who dips in to keep the paycheck coming than at the guy holding the checkbook hostage?

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Post #: 18

RE: Treasury to tap pensions to help fund gov't - 5/17/2011 2:12:14 PM

rulemylife

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quote:

ORIGINAL: servantforuse

Timothy Geithner works for Obama. Yes, Obama is doing this. Taking (stealing) money form a pension fund is not writing a check.

The union worker who retired with a a union pension and then proceeded to bash unions is now complaining about stealing from a pension fund.

God, I love this place.

(in reply to servantforuse)

Post #: 19

RE: Treasury to tap pensions to help fund gov't - 5/17/2011 2:16:40 PM

willbeurdaddy

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quote:

ORIGINAL: Louve00

, despite the republicans wanting to default on our

Guess what, MSNBC fooled you again. Not raising the debt ceiling does not mean we would default on our debt.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to Louve00)

Post #: 20

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