US taps pension fund to avoid passing debt limit

Discussion in 'Wall St. News' started by Archin, Jan 15, 2013.

  1. Archin


  2. Source?
  3. ktm


    Not really news. They delayed some Fed employee 401K contributions (in the TSP G Fund) to help alleviate debt ceiling pressure.

    It will be paid back in full once the ceiling is lifted. They've done it before...hardly noticeable.
  4. By Martin Crutsinger, AP Economics Writer | Associated Press
    This is your source. Today federal employee's pension, tommorrow private pensions, foolks this is just the beginnig. I heard this was going to happen last year. Bingo it happened. You are loosing your freedoms and getting poorer every day. Welcome to the beginning of HELL.
  5. We have become "Argentina". :eek: :( :mad: :eek:
  6. I think NYS already tapped the nys employee's pension more than a year ago. Not sure though, this is second hand info but it wouldn't surprise me.
  7. this is what happens when you allow non US citizens to post on a trading board

    they take what USA politicians say seriously

    everybody knows we are going to pay our debt

    we always have, and always will

    but before we do, we will threaten not to and bitch about it

    S&P didn't downgrade because they thought we wouldn't pay

    they downgraded because they saw we can't cut and we can't stop spending
  8. Humpy


    Noble sentiments OT but what if the US can't pay ?
    You may have to hang a few politicians before the rest decide to cough up.
    Our sleezebags are capping pensions, pay rises, benefits etc.

    What bugs me is they are talking of giving themselves another 30% pay rise.
  9. Humpy


    We are down to eating horsemeat already.


    'Horsemeat beefburgers' investigated in UK and IrelandTesco's Tim Smith: "We're very sorry this has happened"

    Investigations are under way to try to find out how beefburgers on sale in UK and Irish Republic supermarkets became contaminated with horsemeat.

    Irish food safety officials, who carried out tests two months ago, said the products had been stocked by a number of chains including Tesco and Iceland stores in the UK.

    They said there was no human health risk and the burgers had been removed.

    Tesco said it was "working... to ensure it does not happen again".

    The UK's Department for Environment, Food and Rural Affairs (Defra) said it was working with the Food Standards Agency (FSA) to "urgently investigate" how the products came to contain horsemeat.

    Continue reading the main story

    FSAI chief executive

    The investigation will trace the meat back to its source to "find the cause of the contamination".

    The FSA has also called a meeting of food industry representatives.

    The Food Safety Authority of Ireland (FSAI), which is conducting similar inquiries, said the meat had come from two processing plants in the Irish Republic - Liffey Meats and Silvercrest Foods - and the Dalepak Hambleton plant in North Yorkshire.

    The burgers had been on sale in Tesco and Iceland in the UK and the Republic of Ireland, where they were also on sale in Dunnes Stores, Lidl and Aldi.

    A total of 27 burger products were analysed, with 10 of them containing traces of horse DNA and 23 containing pig DNA.
  10. Humpy


    My heart felt sympathies for Jamie Dimon. His bonus is going to be cut down to only $11 million - I don't know how he will manage.
    #10     Jan 16, 2013