Tapping into Pension Fund to get around debt ceiling

“Geithner says gov’t will borrow from federal employee pension fund to avoid passing debt limit”

OK, let’s see how this issue progresses:

Step 1  Replace all Social Security funds with U.S. Government IOU’s

Step 2  Replace all Government Pension Funds with U.S. Government IOU’s

Step 3  Replace all 401K Funds with U.S. Government IOU’s

Step 4  Replace all IRA Funds with U.S. Government IOU’s

Problem solved!

See:

http://www.washingtonpost.com/politics/congress/geithner-says-govt-will-borrow-from-federal-employee-pension-fund-to-avoid-passing-debt-limit/2013/01/15/b58d6470-5f59-11e2-9dc9-bca76dd777b8_story.html

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