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Thread: Treasury to tap pensions to help fund government

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    Treasury to tap pensions to help fund government

    The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.

    Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling — a legal limit on how much it can borrow. With the government poised to reach that limit Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds to pay all of the government’s bills.
    Treasury to tap pensions to help fund government - The Washington Post

    If this doesn't tell you we've over reached our bounds, nothing will. Raiding pensions to pay for spending we cannot afford?

    CUT THE SPENDING. Period. Don't think short term and demand taxes go up, that's a blip, and harms longer term economic growth. Cut spending.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Treasury to tap pensions to help fund government

    Quote Originally Posted by MrVicchio View Post
    Treasury to tap pensions to help fund government - The Washington Post

    If this doesn't tell you we've over reached our bounds, nothing will. Raiding pensions to pay for spending we cannot afford?

    CUT THE SPENDING. Period. Don't think short term and demand taxes go up, that's a blip, and harms longer term economic growth. Cut spending.
    Why not? The private sector does it constantly so why cant the US government?
    PeteEU

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    Re: Treasury to tap pensions to help fund government

    Quote Originally Posted by PeteEU View Post
    Why not? The private sector does it constantly so why cant the US government?
    There is a huge difference between what a private company does, and what the US Government does.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Treasury to tap pensions to help fund government

    The rubber's met the road.

    Cut spending or die. That's where we are. Fortunately, we'll ultimately do the right thing, even if we have to start throwing politicians in the Chesapeake Bay.

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    Re: Treasury to tap pensions to help fund government

    Quote Originally Posted by PeteEU View Post
    Why not? The private sector does it constantly so why cant the US government?
    So you are unclear on the difference between a company failing and a country failing?

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    Re: Treasury to tap pensions to help fund government

    Quote Originally Posted by MrVicchio View Post
    Treasury to tap pensions to help fund government - The Washington Post

    If this doesn't tell you we've over reached our bounds, nothing will. Raiding pensions to pay for spending we cannot afford?

    CUT THE SPENDING. Period. Don't think short term and demand taxes go up, that's a blip, and harms longer term economic growth. Cut spending.
    Please lay out your plan for cutting this much, all at once. In detail.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: Treasury to tap pensions to help fund government

    Quote Originally Posted by Deuce View Post
    Please lay out your plan for cutting this much, all at once. In detail.
    It would require cutting social services, as we all know we can't do that cause "people would starve".
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Treasury to tap pensions to help fund government

    The fiscal future of the US I'm all in favor of.

    However.

    You better be prepared for what that looks like.

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    Re: Treasury to tap pensions to help fund government

    Cut military spending.

    Problem solved.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

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    Re: Treasury to tap pensions to help fund government

    Quote Originally Posted by Khayembii Communique View Post
    Cut military spending.

    Problem solved.
    Not even close bud.

    The US long term fiscal challenges lie simply in medicare, medicaid and social security.

    Theres no hiding from that.

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