Treasury tapping into retirement funds Geithner letter to Harry Reid

I understand Geithner also scaremongered lawmkars regarding this debt ceiling, saying that if they don't raise it, there would be a double dip recession. There is no end to the deviousness and absolute greed of these crooks. What a shame it is that so many greedy people are running govt.

reply to post by ThirdEyeofHorus

I understand Geithner also scaremongered lawmkars regarding this debt ceiling, saying that if they don't raise it, there would be a double dip recession. There is no end to the deviousness and absolute greed of these crooks. What a shame it is that so many greedy people are running govt.

You know, this admin reminds me of a gambler or a junkie who is continuously hitting up his relatives for money by saying "They said they'll break my legs if I don't pay up!".

Originally posted by jibeho
Bold move by Geithner to further demonize the GOP for not lifting the ceiling. Geithner chose an interesting victim card to play. Think this will piss off the federal union base that has been one of the primary tools used by this administration? Geithner is playing political chess for keeps.

Any word on the drastically needed spending cuts yet?? You can't raise the ceiling if you can't make cuts. Otherwise, they might as well just tear the roof off of the entire nation and just say !@#$ it!!

And like clockwork we now have this....

Federal employee unions and their supporters in Congress are vowing to fight attempts to scale back pension benefits to balance the budget. Both the White House and Congress are considering plans to up the pension contributions of the 2.2 million federal employees, The Washington Post reported.

Rep. Gerry Connolly, D-Va., whose congressional district is home to 120,000 federal works and retirees, said the plans “are deliberately making the federal employee a scapegoat for the federal debt and deficit spending.”

The plans would raise the employee contribution to around 6 percent from the current 0.8 percent, resulting in about a 5 percent pay cut.

Union advocates argue that the hike would not only cut take-home pay but result in an exodus of hundreds of thousands of federal workers who are currently eligible to retire and make federal work less desirable. Connolly said that about 60 percent of the federal workforce is currently eligible to retire.

“People are going to look at that and wonder, is this really a career I want to choose? We’re making it a far less attractive choice for people entering the workforce,” Connolly said.

We haven't heard the last from them. The American Federation of Government Employees is just building up steam against this measure. Good Work Geithner. Let's see if he gets the blame or if it gets shifted onto the GOP.
www.newsmax.com...

reply to post by jibeho

Union advocates argue that the hike would not only cut take-home pay but result in an exodus of hundreds of thousands of federal workers who are currently eligible to retire and make federal work less desirable. Connolly said that about 60 percent of the federal workforce is currently eligible to retire.

“People are going to look at that and wonder, is this really a career I want to choose? We’re making it a far less attractive choice for people entering the workforce,” Connolly said.

And this is somehow a bad thing, having hundreds of thousands less government employees on our taxpayer payroll?

Well today alone U.S promised Egypt 1 billion dollars in financial aid.

So, how many seniors over 65 could survive off that until death?..
If they all lived to be... 90?

Honest question.

Im bad with math.

reply to post by mishigas

and on our unemployment/welfare lines....
ya, that's real good.....

but oh, I see we have billions to give away!!!
probably the gov't worker's pension funds, since the social security funds were already given away!
but hey, don't worry, there's the ira's, then there's the people's savings accounts, and then...........
they'll have us all broke and on welfare in no time! it's all about equality!!!

reply to post by dawnstar

and on our unemployment/welfare lines....
ya, that's real good.....

The federal bureaucracy is bloated right now, and we pay their salaries. And we pay them VERY WELL, with great benefits. Let's also remember that they make much more than their private sector counterpart.

But hey, if you want to pay for a hundred more of Obama's 'czars', (average salary: $150,000 ), go for it.

but oh, I see we have billions to give away!!!

Sez who???

probably the gov't worker's pension funds, since the social security funds were already given away!
but hey, don't worry, there's the ira's, then there's the people's savings accounts, and then...........
they'll have us all broke and on welfare in no time! it's all about equality!!!

Don't forget that Ron Paul suggests that we sell the gold in Ft. Knox...

Eat the seed corn, burn the furniture...:shk:

reply to post by dawnstar

and on our unemployment/welfare lines....
ya, that's real good.....

At least the unemployment benefits are finite...

The federal bureaucracy is mucho bloated right now, and we pay their salaries. And we pay them VERY WELL, with great benefits. Let's also remember that they make much more than their private sector counterpart.

But hey, if you want to pay for a hundred more of Obama's 'czars', (average salary: $150,000 ), go for it.

but oh, I see we have billions to give away!!!

Sez who???

probably the gov't worker's pension funds, since the social security funds were already given away!
but hey, don't worry, there's the ira's, then there's the people's savings accounts, and then...........
they'll have us all broke and on welfare in no time! it's all about equality!!!

Don't forget that Ron Paul suggests that we sell the gold in Ft. Knox...

Eat the seed corn, burn the furniture...:shk:

reply to post by mishigas

the post above mine was linked to a story about the obama's great idea of giving middle east countries billions of dollars...that's what I meant about seeing that we had billions to give away!!

as far as the czars who are making 150 thousand a year, well, both you and I know that it wouldn't be them who were let go...they are the buddies of people in high places...it would be the people, who aren't making that much really, who are actually doing the work, ya person who is trying to get the vets their benefits, ect. the actual servents, not the "managers"!!
as far as them tapping into our gold reserve.....some are saying that someone is misquoting paul on this..that he said entirely different....with so many saying that a gold backed currency is in the herizon, this would be a very stupid thing to do...if there's any of the gold left!!

my position would be that before we start harming any of our own, maybe we could ya know, quit creating these 150 thousand dollar czars that are probably doing nothing more than being the buddy to someone in high office, quite bribing other countries to get our way, and well, basically quit being stupid with the money,then, let's see where we are.
otherwise, well, it will probably be the iras next, then something else, then something else, and well, all the talk of our problem and budget and all that will be just that, a bunch of talk, because they won't be doing squat to cut the spending...much of which is needless and of no use to the average american citizen anyways....