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US taps pension fund to avoid passing debt limit (Borrowing against borrowed pensions)
msn money ^ | 1/15/2013 | MARTIN CRUTSINGER

Posted on 01/15/2013 3:15:10 PM PST by tobyhill

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To: diogenes ghost

All they are doing is putting an IOU in a box full of IOUs.
*********
GREAT POST! You nailed it.


21 posted on 01/15/2013 4:17:17 PM PST by Starboard
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To: RatRipper

He did the same thing last time, so then when he does get borrowing authority a lot is used up quickly by paying the retirement back.


22 posted on 01/15/2013 4:49:39 PM PST by Rusty0604
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To: Rusty0604

Shoot just think of all the extra time we could have if they used the Postal Employees retirement funds


23 posted on 01/15/2013 5:07:09 PM PST by castnet55
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To: Starboard

Not even close to true.
I have inside information refuting this statement.


24 posted on 01/15/2013 5:51:19 PM PST by Fireone (Impeach and imprison, NOW! Treason and murder are still crimes.)
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To: tobyhill
Anyone still think they won't take 401K or anything else they can get their hands on? Let them have your firearms and they can take absolutely everything else!

μολὼν λαβέ


25 posted on 01/15/2013 5:53:18 PM PST by wastoute (Government cannot redistribute wealth. Government can only redistribute poverty.)
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To: tobyhill

B-b-b-but there might not be enough debt/revenues for big government tomorrow! That would be just terrible. ;-)


26 posted on 01/15/2013 6:07:35 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: tobyhill

If you are a govt worker, you should pay attention very closely


27 posted on 01/15/2013 6:18:35 PM PST by bestintxas (Anyone who votes for Obama after these 4 miserable years needs to take a mandatory citizenship test.)
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To: usconservative
I say we make them “borrow” every last cent of every last government pension then watch the rat bastards squirm like hell when their core constituency demands the money be put back.

Hear, Hear

28 posted on 01/15/2013 6:46:21 PM PST by Vinnie (A)
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To: tobyhill

It appears things are actually worse than they want to admit.


29 posted on 01/15/2013 9:12:04 PM PST by Crucial (Tolerance at the expense of equal treatment is the path to tyranny.)
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To: Starboard; pepsionice

There are 10 total TSP funds. There is one and only one, the G fund can be borrowed from. The other 9 are index funds invested in the market. The G fund has been borrowed from before, and later repaid. The G Fund buys a nonmarketable U.S. Treasury security that is guaranteed by the U.S. Government. This means that the G Fund will not lose money. “They voted for Obama. The joke’s on them.” Don’t bet on it, all Civil Servants are individuals, just as your Company employees, Church members, your drinking buddies, friends you went to High School and College with, they all voted individually, not lock step because of their race, color or creed. For me it’s Freedom, Family values, Conservative principles and Patriotism before these liberal progressives, skin pigment, small minded princes who want to control everything in our lives.


30 posted on 01/15/2013 10:46:23 PM PST by Colorado Cowgirl (God bless America!)
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To: Fireone

“I have inside information refuting this statement.”
*********
Unnamed sources? A well-placed official? Sounds like the liberal media. Post your views (unsourced is OK) so we can at least see some rationale as to why you think this is not even close to being true.


31 posted on 01/16/2013 4:19:32 PM PST by Starboard
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To: Colorado Cowgirl; pepsionice

“The G Fund buys a nonmarketable U.S. Treasury security that is guaranteed by the U.S. Government. This means that the G Fund will not lose money.

“They voted for Obama. The joke’s on them.” Don’t bet on it, all Civil Servants are individuals, just as your Company employees, Church members, your drinking buddies, friends you went to High School and College with, they all voted individually, not lock step because of their race, color or creed.”

*********
1) The “guaranteed” G Fund may not lose money technically speaking, but it is losing buying power. Rate for the last 12 months was less than 1.5% which does not keep up with inflation.

2) I didn’t say that ALL Civil Servants were in lock step. Some are probably horrified at the what this regime is doing to their country. However, the vast majority of feds (70%) and their unions (NTEU & AFGE) strongly supported Obama. His administration is now tapping the federal employees’ G Fund to avoid passing the debt limit. And the pay raise for 2013 will be a paltry .5%. Like I said, the joke’s on them.


32 posted on 01/16/2013 4:39:41 PM PST by Starboard
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To: Starboard

Just know, that there are a ton of federal workers that
don’t like Odumbo, and certainly didn’t vote for him.


33 posted on 01/16/2013 5:46:07 PM PST by Fireone (Impeach and imprison, NOW! Treason and murder are still crimes.)
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To: Fireone

No doubt some federal workers are horrified by what this regime is doing to their country. I personally know some who are. However, the vast majority of feds (70%) and their unions (NTEU & AFGE) strongly supported Obama.


34 posted on 01/17/2013 2:22:58 PM PST by Starboard
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