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Treasury to tap pensions to help fund government
Washington Post ^ | 5/15/2011 | Zachary A. Goldfarb

Posted on 05/16/2011 8:08:46 AM PDT by Qbert

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To: Qbert

Make this a permanent feature of our budgeting process.


21 posted on 05/16/2011 8:57:07 AM PDT by Brilliant
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To: Qbert

So the Treasury can overstep congress and do this?


22 posted on 05/16/2011 9:12:09 AM PDT by hedgetrimmer
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To: Gilbo_3
RE :"would seem that any pol that wants to, could relate this to the loomin [cough] ‘insolvency of SS/medicare’ and why all the money pissed away, everyday , needs to be cut...NOT holdin my breath fer that, but awaiting the declaration that we need to go ahead and extend the debt, to cover all the promises...even to fence jumpers and terrorist countries"

How about all the money 'I paid in' ?? It's not there? I just want the bad gubmnt to pay me my entitlements, not charge the taxpayers. I thought cutting PP and ACORN would save enough money for that, no ??? :)

They symbolically repealed Obama-care, then symbolically repealed medicare.

23 posted on 05/16/2011 9:13:05 AM PDT by sickoflibs ("It's not the taxes, the redistribution is the federal spending=tax delayed")
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To: Qbert

What about the pesions of Congressmen? Will they be touched?


24 posted on 05/16/2011 9:23:08 AM PDT by 353FMG (The M1911 is mightier than the sword.)
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We wish it grew there

25 posted on 05/16/2011 9:23:16 AM PDT by TheOldLady
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To: William Tell

“The result will be that the U.S. will have exactly the same debt total due to paper obligations of the U.S., but IN ADDITION will owe reimbursement to the pension fund...Am I missing something about how all this works?”

It’s government accounting- they play by different rules. (This is older, but may still be relevant):

http://www.gao.gov/new.items/d04526.pdf


26 posted on 05/16/2011 9:27:36 AM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: Qbert

This article is a hoot!

First it says “The measure won’t have an impact on retirees because the Treasury is legally required to reimburse the program.” AND then immediately after it says

IF IT defaults it won’t be able to meet it’s obligations!


27 posted on 05/16/2011 9:32:21 AM PDT by proudtobeanamerican1 (A house divided against itself cannot stand.” Abraham Lincoln)
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To: Popman
....of course this is one step away from justifying tapping our retirement 401 (K)

I think that is exactly what it is.

28 posted on 05/16/2011 9:36:15 AM PDT by ClearCase_guy (The USSR spent itself into bankruptcy and collapsed -- and aren't we on the same path now?)
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To: Qbert; All

A friend in the Army Corp of Engineers told me a couple of weeks ago that the federal government tried to do this same thing back in ‘95 or ‘96 when we had the same government budget limit issue, and he said the courts slapped the fed’s attempt down and prevented them from doing this. If that’s the case, then a legal precedent was set that I would think should hold up again this time. Thoughts?


29 posted on 05/16/2011 9:41:53 AM PDT by OB1kNOb (The stench of dependency is a sickening smell. Strive to become an asset, not a liability.)
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To: Qbert
Let's connect the dots, shall we?

First they came for the Social Security Funds and no one complained.

Then they came for the Federal Retirement Funds and no one complained.

Then they will come for the private retirement funds and no one complained because there was no one left.

Welcome to the Dark Ages people when everyone and everything belonged to either the local Laird of monastery.
take a close look at all the “privileges’ the local Laird had up to an including to the first night in the new wife's wedding bed.

It has happened before and will happen again.

30 posted on 05/16/2011 9:48:13 AM PDT by Nip (TANSTAAFL)
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To: ClearCase_guy
I think that is exactly what it is.

I have no doubt they would if they could. But I'm trying to wrap my head around the idea of how they would do it without outright rebellion

Most 401 (k) are employer run and I can't see the US government mandating them to transfer the value of the stocks, bonds to the treasury

I could see them asking companies to let the government borrow against the value, but again it would be political suicide

31 posted on 05/16/2011 9:56:51 AM PDT by Popman (Obama. First Marxist to turn a five year Marxist plan into a 4 year administration.)
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To: Popman

“Most 401 (k) are employer run and I can’t see the US government mandating them to transfer the value of the stocks, bonds to the treasury
I could see them asking companies to let the government borrow against the value, but again it would be political suicide”

I wonder if there’s anything lurking around in the FinReg law that they would attempt to use. (Nobody ever seems to talk about that monstrosity anymore).


32 posted on 05/16/2011 10:10:49 AM PDT by Qbert ("The best defense against usurpatory government is an assertive citizenry" - William F. Buckley, Jr.)
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To: Qbert

I have seen this Obama government do a lot of things I never thought I would see. Maybe it’s time to pull our money out of the 401K


33 posted on 05/16/2011 10:26:53 AM PDT by sportutegrl
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To: Popman
But I'm trying to wrap my head around the idea of how they would do it without outright rebellion

In my darkest moments, I think that is precisely what Obama will do in the end:

He won't do it to re-shape society.
He won't do it cut the deficit.
He won't do it to increase spending.
He won't do it as part of some political or electoral strategy.

On my darkest days, I think Obama will do something like that because he wants this country utterly destroyed by a revolution. We would be shoved off the world stage for years and all of the anti-Western Civilization forces which Obama loves so much would move up in the world. All he has to do is try to seize our retirement assets and then this country all falls apart.

He doesn't have to successfully grab the assets.
He doesn't have to win the war.
He doesn't have to hold on to political power.

But he would win if he destroyed us, and this is one of the ways he could do that.

34 posted on 05/16/2011 10:39:45 AM PDT by ClearCase_guy (The USSR spent itself into bankruptcy and collapsed -- and aren't we on the same path now?)
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To: OB1kNOb

read this discussion (dating from 2006) and you will be wiser than your friend

http://www.tsptalk.com/mb/showthread.php?t=2664

However, what happened in the past, under a different Congress and a different presdient....is not guaranteed to happen again under the lawless arrogant contemptuous fobs now running the USA into the ground. These effete foreign- raised snobs like obama and geither would love to remake America because they currently hate Americans


35 posted on 05/16/2011 10:54:06 AM PDT by silverleaf (All that is necessary for evil to succeed, is that good men do nothing)
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To: Qbert

The bailout was temporary, now this.....delay tactics until the real planned pillage of Vampire-Care begins.


36 posted on 05/16/2011 10:55:12 AM PDT by Varsity Flight
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To: Qbert

So now the Feds own base can feel the pain, of having Obama and his inept Cabal of Czars taking the money from them.
Maybe the Dems will begin to see the Implosion coming, from Obama’s Mismanagement of the US economy.


37 posted on 05/16/2011 11:39:07 AM PDT by OPS4 (Ops4 God Bless America!Jesus is Lord!)
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To: Track9
For every low rent brain dead Obama bot he entices into his social justice moral equivalence hell hole, a federal worker will be flipping him the bird.

This is assuming the federal worker is smart enough to know who to blame...

More than likely "the rich" will be blamed...

38 posted on 05/16/2011 1:12:51 PM PDT by CommieCutter (Promote Liberal Extinction: Support gay marriage and abortion!)
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To: Popman
I have no doubt they would if they could. But I'm trying to wrap my head around the idea of how they would do it without outright rebellion Most 401 (k) are employer run and I can't see the US government mandating them to transfer the value of the stocks, bonds to the treasury

It will be really simple and people will laud them for it. They will "protect" private retirement by requiring all qualified plans to be invested (say 25% or 50%) in "safe" treasuries. Nobody will ever have to worry about losing their retirement to "evil" financial institutions.

39 posted on 05/16/2011 1:26:04 PM PDT by Tucsonican
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To: TomGuy

IOU’s to replace the IOU’s that are in those retirement funds instead of the cash they already stole.


40 posted on 05/16/2011 1:43:36 PM PDT by itsahoot (We make jokes, they make progress. Dimmitude, get used to it.)
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