Monday, May 16, 2011

I'm Just Sayin...

Treasury Tapping Federal Retirement Accounts to Stave Off Default from

Tim "In Over My Head" Geithner
 "...Treasury Secretary Tim Geithner has informed members of Congress that, with the U.S. government reaching its $14.3 trillion debt ceiling Monday . . . a plan to suspend investments to two government employee retirement funds, while borrowing from one of them..."  This is why there is no Social Security set aside, they go into this money for pensions - it will be all the easier to go into it again.

"...The administration has urged Congress to separate the debt ceiling vote from the push to extract long-term spending cuts. But several moderate Democrats joined Republicans in recent weeks in demanding budget reforms in exchange for a vote on the debt ceiling..."  Isn't that like saying 'the administration wants to spend more money, and doesn't want to promise not to keep doing so.'

"...Democrats are pushing hard for ending tax breaks for the biggest oil companies, a move estimated to bring in an extra $2 billion a year, but Republicans for the most part are shying away from anything that resembles a tax increase, calling instead for spending cuts only and entitlement reform..."  Corporations, even evil oil companies - DO NOT PAY TAXES - consumers pay those taxes at the pump.

The smartest guy in the room, who just lost any shot at being President

"...Newt Gingrich said, "I don't think imposing radical change from the right or the left is a very good way for a free society to operate. I think we need a national conversation to get to a better Medicare system with more choices for seniors, but there are specific things you can do..."  Do you think he even saw the front sites? I mean OUR OWN FOOT is at a pretty close range. 


innominatus said...

Here's your national conversation, Newt: WE'RE BROKE!

LL said...

Congressional greed motivated unrestricting the Social Security Fund and folding it into the General Fund where it was looted three ways from Sunday. Somebody (or many somebodys) in Washington should be EXECUTED or imprisoned for life for embezzling pension funds.

In most state and local pension funds and in many private pension funds, the pension fund is not a function of government, but is a private institution with a board voted on by members/participants. Not so with the federal system.

Newt wouldn't make a good president, IMHO. He'd be better than BHO, but he doesn't have vision AND balls and we need both.