If Congress cannot agree to extend the debt limit by Oct. 30, the Treasury Department will have to resort to extraordinary measures, which includes suspending investments in federal workers’ retirement funds.
The Treasury will temporarily stop making investments in the Thrift Savings Plan’s G Fund and Exchange Stabilization Fund to milk the last of its reserves before it reaches the debt limit on Nov. 3, according to a new Congressional Budget Office projection.
Treasury also will suspend new securities and semiannual interest payments to the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund.
To be clear, these measures are standard operating procedure when the government starts getting claustrophobic as the debt ceiling approaches.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
3 comments:
time to push the panic button
CONGRESS spends the money and the federal employees have to pay??
Really?
Start taking chunks of Congress's regal retirement fund. Suspend their medical benefits.
And don't think that "voting" will change anything. Your "guy" is not going to stop this free-spending ride. He'll be happy to jump off just before the crash and claim "he fought hard", though.
We can either vote these alcoholic pedophiles out of office (nearly impossible; once IN "the most exclusive club in the world", leaving that royal endeavor becomes distasteful) or hang them.
Those are the only two ways to stop what they are doing to "we, the people". Blatantly. Arrogantly. With an in-your-face sneer, like "so what? You gonna DO something?? Huh? Huh???".
Keep cheering.
GOOD
Post a Comment