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US taps pension fund to avoid passing debt limit

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windreader1




Geithner says gov't will borrow from federal employee pension fund to avoid passing debt limit


WASHINGTON (AP) -- Treasury Secretary Timothy Geithner says the government has begun borrowing from the federal employee pension fund to keep operating without surpassing its debt limit.

Geithner says in a letter to congressional leaders that the move will free up $156 billion in borrowing authority while Congress debates increasing the $16.4 trillion debt limit.

The government reached its borrowing limit on Dec. 31, but began using bookkeeping maneuvers to keep from surpassing it. Geithner has told congressional leaders that Treasury expects to exhaust those measures by mid-February to early March.

The latest action has been taken by other Treasury secretaries and will not put in jeopardy any monthly pension payments. Geithner said he will replace the funds removed from the pension account after the borrowing limit is raised.

windreader1



This ought to scare the H--- out of a lot of folks.

gente

gente

Eating ourselves alive...the crash has to right around the corner....the banksters will suck us completely dry before hand, of course...

MrsCK



"rob peter to pay paul"....well they are NOT good at it! I hope ALL the federal employees get pissed! Here is a lady that blasted her senator, it does have a few cuss words by I think she has a right to say them:

Montana citizen, Patty Myers Letter:

Alan Simpson, the Senator from Wyoming calls senior citizens the Greediest
Generation as he compared "Social Security " to a Milk Cow with 310
million teats.


Here's a response in a letter from PATTY MYERS in Montana ... I think she is a little ticked off! She also tells it like it is!

"Hey Alan, let's get a few things straight!!!!!

1. As a career politician, you have been on the public dole (tit) for FIFTY YEARS.

2. I have been paying Social Security taxes for 48 YEARS (since I was 15 years old. I am now 63).

3. My Social Security payments, and those of millions of other Americans,
were safely tucked away in an interest bearing account for decades until
you political pukes decided to raid the account and give OUR money to a
bunch of zero losers in return for votes, thus bankrupting the system
and turning Social Security into a Ponzi scheme that would make Bernie
Madoff proud.


4. Recently, just like Lucy & Charlie Brown, you and "your ilk" pulled the proverbial football away from millions of American seniors nearing retirement and moved the goalposts for full retirement from age 65 to age, 67. NOW, you and your "shill commission" are proposing to move the goalposts YET AGAIN.

5.
I, and millions of other Americans, have been paying into Medicare from
Day One, and now "you morons" propose to change the rules of the game.
Why? Because "you idiots" mismanaged other parts of the economy to such
an extent that you need to steal our money from Medicare to pay the
bills.

6.
I, and millions of other Americans, have been paying income taxes our
entire lives, and now you propose to increase our taxes yet again. Why?
Because you "incompetent bastards" spent our money so profligately that
you just kept on spending even after you ran out of money. Now, you come
to the American taxpayers and say you need more to pay off YOUR debt.

To add insult to injury, you label us "greedy" for calling "bullshit" to
your incompetence. Well, Captain Bullshit, I have a few questions for
YOU:

1.
How much money have you earned from the American taxpayers during your pathetic 50-year political career?

2.
At what age did you retire from your pathetic political career, and how
much are you receiving in annual retirement benefits from the American
taxpayers?

3.
How much do you pay for YOUR government provided health insurance?

4.
What cuts in YOUR retirement and healthcare benefits are you proposing in
your disgusting deficit reduction proposal, or as usual, have you
exempted yourself and your political cronies?

It is you, Captain Bullshit, and your political co-conspirators called Congress who are the "greedy" ones. It is you and your fellow nutcase thieves who have
bankrupted America and stolen the American dream from millions of loyal,
patriotic taxpayers.

And for what? Votes and your job and retirement security at our expense, you lunk-headed, leech.

That's right, sir. You and yours have bankrupted America for the sole purpose
of advancing your pathetic, political careers. You know it, we know it,
and you know that we know it.

And you can take that to the bank, you miserable son of a bitch. NO, I did not stutter.

P.S. And stop calling Social Security benefits "entitlements". WHAT AN INSULT!!!!

I have been paying in to the SS system for 45 years “It's my money”-give
it back to me the way the system was designed and stop patting yourself
on the back like you are being generous by doling out these monthly
checks!

gente

gente

I LOVE HER! AMERICANS ARE SICK TO DEATH OF THESE TRAITORS! THX CK!

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