Treasury to tap pensions to help fund...

Treasury to tap pensions to help fund government

There are 60 comments on the www.washingtonpost.com story from May 16, 2011, titled Treasury to tap pensions to help fund government. In it, www.washingtonpost.com reports that:

Lee Sachs, chief executive officer for AlliancePartners and former assistant U.S. Treasury secretary, says the debt ceiling can't be tied to deficit talks. 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 that limit reached 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. Geithner, who has already suspended a program that helps state and local government manage their finances, will begin to borrow from retirement funds for federal workers. The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program. The maneuver buys Geithner only a few months of time. If Congress does not vote by Aug. 2 to raise the debt limit, Geithner says the government is likely to default on some of its obligations, which he says would cause enormous economic harm and the suspension of government services, including the disbursal of Social Security funds.

Join the discussion below, or Read more at www.washingtonpost.com.

First Prev
of 3
Next Last
Wake Up

Antioch, TN

#2 May 16, 2011
politicians, we're all screwed.

But, for all those pushing higher taxes, you can't raise enough money through taxes to pay for our spending.

It's never been a taxing problem, but a spending problem. They have a throw down, dragged out fight over a few billion dollars.... when we need to cut TRILLIONS.

“Let's talk to each other:”

Since: Apr 10

NOT about each other!

#3 May 16, 2011
Someone's cooking a huge pot of "fear stew", huh?

“The Turdblossom of Topix”

Since: Dec 08

Paragould

#5 May 16, 2011
Apparently Bob Beckel revealed the strategy for Democrats in 2012. The DEBT IS A SCAM!

Yep, that's the game plan folks. Tell everybody the debt doesn't matter.

“The Turdblossom of Topix”

Since: Dec 08

Paragould

#6 May 16, 2011
Wake Up wrote:
politicians, we're all screwed.
But, for all those pushing higher taxes, you can't raise enough money through taxes to pay for our spending.
It's never been a taxing problem, but a spending problem. They have a throw down, dragged out fight over a few billion dollars.... when we need to cut TRILLIONS.
Bah Democrats don't think it matters one bit what the debt is.

The game plan is to take the most important issue and try to make it a non issue.

Just more Democrats kicking the can down the road like Clinton did with Osama.

Since: Aug 10

Cathouse Mouse

#7 May 16, 2011
Workers first question: Why?

Answer, Republicans dragging out the raising of the debt ceiling for political leverage.(For the first time in history).

Workers first reaction; "Republicans huh?".

Since: Aug 10

Cathouse Mouse

#8 May 16, 2011
By all means, please write your Republican Congress Members and urge them to stall on the debt ceiling adjustment. This will for once and all complete the ultimate goal of ruining the national economy.

Expect a surprise when you turn to point the finger.

Since: Aug 10

Cathouse Mouse

#10 May 16, 2011
Free America__ wrote:
<quoted text>
It will be a big issue if the dollar is dropped as the world standard. China is already doing what it can to get rid of the U.S. currency it has. Also, China, Russia, Fance, and the Middle East are looking into making a new standard.
We better wise up or were gonna sink like the Titantic.
Every story that starts out with "China wants to destroy the US" is a fairy tale.

That's like hoping the guy who owes you rent loses his job.

Fairy tales aren't scarey.
Wake Up

Antioch, TN

#12 May 16, 2011
Cathouse Mouse wrote:
<quoted text>
Every story that starts out with "China wants to destroy the US" is a fairy tale.
That's like hoping the guy who owes you rent loses his job.
Fairy tales aren't scarey.
lol, do you think if they thought they could severly hamper us, or even get taiwan "back" and become the lone super power, they wouldn't be strongly tempted?

you ought to think about the fact that, they starved 30 million or so of their own citizens... you think they'll care if they lose another 30 million, or a hundred million? they'll still have over a billion or so left..
LOL

Tampa, FL

#13 May 16, 2011
obama's thugs are now using Jimmy Hoffa's tactics.....

anybody see another Social Security fund problem here.....

Since: Aug 10

Cathouse Mouse

#14 May 16, 2011
hahaha what good conspiracy ring would be complete without Jimmy Hoffa.
WAKE UP

Saint Louis, MO

#15 May 16, 2011
If you have a 401K or IRA CLOSE them and take YOUR fiat money out of them and convert them to physical gold/silver.

Close any savings account and convert it to physical gold/silver.

Time to stop the corrupt banksters who own *dc* and the *elitist*...

Wake up sheeple!!!!!!!
guest

Little Rock, AR

#17 May 17, 2011
Free America__ wrote:
So the government is going to start borrowing funds from federal workers retirement account...
Not very good news...
They've stolen every dime out of the Social Security trust fund. So what's the dif?
guest

Little Rock, AR

#18 May 17, 2011
Any credit counselor anywhere in the country will tell the exact same thing to anyone coming to them drowning in debt:

STOP BORROWING MONEY!

It's such a basic, elementary financial principle. If your debt is killing you, stop taking on more debt. That's the very first step in recovery.

The bozos in Washington need to do the exact same thing that hundreds of millions of Americans have had to do in these tough economic times: LIVE WITHIN THEIR MEANS.

If the debt ceiling is not raised, it doesn't mean government has zero money coming in. They simply need to make intelligent choices about where to spend government revenue. It's no different than you or me making choices about using our income to pay for housing, food, and clothing, or deciding to take a vacation and run up the credit card bill. There comes a point in time where you have to choose the necessities over the desires and stop running up the credit card bill. That's what adults do.

If our current politicians won't make no-brainer decisions like stop borrowing money and fixing the runaway spending problem in Washington, vote their asses out and elect others who will.
Telmark

Chico, CA

#19 May 17, 2011
When is this Government going to admit that you can't borrow your way out of debt?

When is this Government going to admit that their "credit and printing press" based economy will only lead to catastrophic inflation?

When will the voters realize that portions of this Government are spreading Government dependency rather than wealth?

When are you Government handout dependent voters going to realize that your Government can, and will, do whatever it wants once you're dependent on their handouts?

When are you Government handout dependent voters going to realize that you've sold your souls out to an insidious Government that cares absolutely nothing about you?

“I don't need no stinkin job.”

Since: May 09

Topix Bar and Grill

#20 May 17, 2011
Free America__ wrote:
<quoted text>
Listen, I know this is beyond your intellect to understand so I'll let you slide on this being a fairy tale...
You don't seem to understand. China is not hoping that the the U.S. is "losing it's job". They are using the U.S. currency to buy companies and capital from other countries. Which means, they are passing the debt to other countries who do not know better. They see the U.S. as a bad investment and trying to make the best they can from it... It's not about destroying but protecting from a bad investment...
Do you understand now?
And exactly which other countries "do not know better"?

This should be good......

“The Turdblossom of Topix”

Since: Dec 08

Paragould

#21 May 17, 2011
Cathouse Mouse wrote:
Workers first question: Why?
Answer, Republicans dragging out the raising of the debt ceiling for political leverage.(For the first time in history).
Workers first reaction; "Republicans huh?".
You mean like Obama admitted he did?

“The Turdblossom of Topix”

Since: Dec 08

Paragould

#22 May 17, 2011
Cathouse Mouse wrote:
By all means, please write your Republican Congress Members and urge them to stall on the debt ceiling adjustment. This will for once and all complete the ultimate goal of ruining the national economy.
Expect a surprise when you turn to point the finger.
Here are Obama’s thoughts on the debt limit in 2006, when he voted against increasing the ceiling:

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.… Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

“The Turdblossom of Topix”

Since: Dec 08

Paragould

#23 May 17, 2011
Free America__ wrote:
<quoted text>
Listen, I know this is beyond your intellect to understand so I'll let you slide on this being a fairy tale...
You don't seem to understand. China is not hoping that the the U.S. is "losing it's job". They are using the U.S. currency to buy companies and capital from other countries. Which means, they are passing the debt to other countries who do not know better. They see the U.S. as a bad investment and trying to make the best they can from it... It's not about destroying but protecting from a bad investment...
Do you understand now?
If Ed Schlutz doesn't say it, RBJ doesn't know it.
amused

United States

#24 May 17, 2011
BoatsNHoes wrote:
<quoted text>
If Ed Schlutz doesn't say it, RBJ doesn't know it.
Just wondering..do you worship Hannity, Beck, and Limbaugh?
steve

Acworth, GA

#25 May 17, 2011
I think it's a fine idea. fat cat govt workers should be happpy to help out by letting geitner use their pensions.

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 3
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Senator Michael Bennet Discussions

Title Updated Last By Comments
News EPA: Colorado mine waste spill much larger than... Aug 12 Agents of Corruption 2
News Pot Politics: The Marijuana Business Comes To W... Jul '15 Sterkfontein Swar... 3
News TPP: 13 Democratic Senators Invite Republicans ... Jun '15 spadethetrade 1
News VA: Cut spending or delay projects to finish De... Jun '15 Satan Pickets 1
News Democrats Search for Candidate Who Can Beat Cof... May '15 Le Jimbo 1
News Can Republicans Repeat an Upset in Colorado? May '15 Le Jimbo 1
News 510 Senate seats considered most likely to swit... Mar '15 Le Jimbo 1
More from around the web