Treasury dips into pension funds to avoid debt


Treasury dips into pension funds to avoid debt

Reuters

January 18, 2012

The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills.

“I will be unable to invest fully” the federal employees retirement system fund beginning Tuesday, Treasury Secretary Timothy Geithner said in a letter to Democratic and Republican leaders in Congress.

The House of Representatives is expected to vote on Wednesday on the Obama administration’s request to raise the country’s legal debt limit to $16.394 trillion

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About partisanrangershow

Freedom fighter
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2 Responses to Treasury dips into pension funds to avoid debt

  1. gideon says:

    Talk about robbing Peter to “pay” Paul. Nothing is sacred with these guys.

  2. John Stott says:

    Gideon, this has gone on for years in Britain. Now many private final salary schemes are closed as well as public pension schemes. There is a legal obligation to save into a scheme. However, it shows the collectivist mind at its worst. To save for old age is an individuals obligation, the extent of the states intrusion into private life is laid bare for all to see here.

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