Wednesday, May 18, 2011

Little Timmys pension grab

I have written in the past about the various governments around the world that have stolen their citizens pensions in order to spend the money on keeping the ponzi scheme of government going for a bit longer. I also said these actions would come here to the US. Well little Timmy Geithner has stolen some government workers pensions to tide over Leviathan for a bit longer. He is promising to put the money back after the evil republicans come up with a budget deal with his boss, and he probably will this time, but the precedent has now been set. Better start planning on your 401k or IRA being next in line once the FEDS can longer borrow anymore money from China. Somebody has to put money on all those 40+ million food stamp cards. This is the change we have been waiting for I guess.
Advertiser-Tribune:

Treasury Secretary Timothy Geithner insists that is only because of emergency action he took during the weekend. In order to pay the government's bills, including interest on the debt, Geithner is to borrow money from pension programs serving federal retirees. At some point the cash would have to be paid back into the pension funds.

Using the pension money would extend until Aug. 2 the date by which Congress must approve a higher debt ceiling to avoid catastrophic consequences, Geithner told reporters.

We presume Geithner has known about the pension borrowing scheme for weeks, if not months. Yet his boss, Obama, has continued to use the $14.3 trillion ceiling as a prod to accuse fiscal conservatives of risking another recession.

2 comments:

Craig Cavanaugh said...

I read that with great amusement the other day. Folks like me and you have been sounding the alarms for years now, but very few will listen. When the government steals their retirement, maybe then they will listen. America, thy name is Argentina...

John Polomny said...

May be but I doubt it. It seems that most people are so programned they cannot even fathom this.

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