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Mind if D.C. raids your pension fund?

Published:

The debt limit was hit in May 2011.

This easy to read article explains where D.C. got the money from to keep going since then.

The Looters by Doug Hornig

http://www.caseyresearch.com/cdd/despicable-dc-looters#section0

Does the paragraph that begins "If civil service pension funds can be molested ..." ring any bells? Ponder

Entry #588

Comments

1.
JAP69Comment by JAP69 - July 14, 2011, 11:42 pm
Thanks time,
It could get down to where a national emergency could be declared. I read what they could do but forgot the details and deleted the pdf on it after reading it. I thought money matters was mentioned in it as far as obtaining money. I could be wrong with my memory the way it is.
2.
TigerAngelComment by TigerAngel - July 15, 2011, 2:53 am
OMG and OMG!! So the deadline was in May and they have been looting the retirement funds! A few hours ago I was in a conversation about the standoff going on in DC right now over the debt ceiling, raising taxes, the Prez walking out of a meeting in a huff, etc. My retired friend said it's all a show and they will do what they want. He said he expects someday sooner or later he will get a letter in the mail from his retirement account and/or Social Security stating his benefits are being cut. He thinks they will go after the elderly's money because they can't fight back. My oh my. When do we get the pitch forks out!!
3.
time*treatComment by time*treat - July 15, 2011, 5:00 am
@TigerAngel: Yeah, here's an L.A. Times article from when it happened.
http://articles.latimes.com/2011/may/16/business/la-fi-debt-ceiling-20110517

I'd bet far more people are following celeb gossip than have been following this story, even though this could have a negative impact on many more people. Maybe a certain trial was used as a distraction after all.
4.
Rick GComment by Rick G - July 15, 2011, 3:28 pm
Why don't they stop dropping bombs and shooting missiles at everybody? That might save a few bucks. The Pentagram budget was approximately $666 billion and that doesn't include the special funding for five (? - lost count) wars. We're spending a trillion$ a year to be the neighborhood bully.
5.
time*treatComment by time*treat - July 15, 2011, 5:27 pm
If the oldsters are stiffed on their checks, do the weapon vendors still get paid?
6.
Rick GComment by Rick G - July 15, 2011, 7:14 pm
@time*treat, you betcha! Those invoices are paid in full upon delivery. Probably in cash.

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