US Treasury secretary says he has begun tapping federal retiree pension fund

[Large Sarge]

http://www.startribune.com/business/208236701.html?refer=y

[Hatha Sunahara]

There must be lots of money in those pension funds. How is the government going to deal with deficits after they have looted this pool of cash? Like the big banks, the governmen is also much too big to fail. That must be a euphemism for 'big enough to steal everything'.


Hatha

[madfranks]

Yikes! Seriously, unless they lift the debt ceiling again, I see no other next step than "borrowing" private sector retirement accounts as well! Yikes!

[pioneer]

Didn't pension fund borrowing trial run start with raiding S/S? way back when?

[gunDriller]

in conjunction with the move to lift the debt ceiling, this is like the US government has declared a State of Emergency.

they will take as much money as needed from wherever they can find it - in this case, pension funds - to fund the ongoing criminal activities of the (mutant) US government.


Debt Ceiling, Schmedt Ceiling. Pension Smension.

i smell bagels.

[vacuum]

Now is a perfect time to cash out of a pension and go into PMs.

[Serpo]

In Australia we can manage our own retirement fund ,its called self managed super fund ,through an accountant and no guessing what I invested in with mine.


Previous fund I searched and searched and searched but there was no way you could invest in pms unless it was via share market.

Who on earth would want pms in their retirement fund I guess.....hard to believe but when a person gets older they are not prone to risky investments so much.

[Sparky]

There must be lots of money in those pension funds. How is the government going to deal with deficits after they have looted this pool of cash?
...

Hatha

Yep, enough to pay all the bills until October. This is the same thing they did during the last debt ceiling debate. Once it was lifted, they just borrowed all the money required to restore the pension fund. It's quite an arrangement they got going there.

[Son-of-Liberty]

Yep, enough to pay all the bills until October. This is the same thing they did during the last debt ceiling debate. Once it was lifted, they just borrowed all the money required to restore the pension fund. It's quite an arrangement they got going there.

So really the debt is still going up right now, we just won't know by how much until they raise the limit again?

Turds