I guess they will begin with taking public's savings before they touch the big crooked banker's retirement fund - what a surprise that is.
US Treasury to tap pensions to help fund the government
by diamondiiz 15 Replies latest social current
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Snoozy
I got a chuckle out of this statement...I am sure they said the same thing about borrowing from the SS fund..
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
legally required to repay the program..
Snoozy
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munchausen
test
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Band on the Run
I assume they want to use the pensoin funds to securitize loans. This economy is so bad it frightens me and then some. They are talking about this right now on PBS Evening News.
It is bad but I don't know what would be preferable. The Middle Class gets screwed even though we vote. Imagine the poor. What is going on right now seems unimaginable only a short while ago and I am definitely a senior now.
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Snoozy
They hit the old and poor because they know they don't have the means to fight back..by doing this they are in effect teling the young people they will be on their own in the future..at least that's how I see it. By pooling it in a fund this way the government still has access to it. You would be better off starting your own retirement fund in your own name..
Right now SS fund is mandatory for a employee to pay into. I wonder if it will be that way if they go to "Pension funds" for individuals also in the future?
Taking it from Government workers is only the beginning...
Snoozy..
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designs
The Feds have been borrowing from the Social Security Fund for years, and of course when we retire the money we pull out gets hit multiple ways by local, state and federal taxes and fees all over again.