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Treasury has taken $80B from the G and CSRDF fund so far

Posted: Mon Jun 06, 2011 8:03 pm
by Dr Pain
http://www.zerohedge.com/article/quanti ... nds-debt-c

Last Thursday we attempted a rough estimation of how much the Treasury has been dipping, or as it is also known "disinvesting", into the G-fund and the Civil Service Retirement and Disability Fund (CSRDF). Courtesy of Stone Mountain, we now have a definitive number. Even we did not realize how bad it is: in a nutshell, since the debt ceiling breach in mid May, Tim Geithner has replaced one IOU (that of the Fed) with another (that of the Treasury) in the G Fund to the tune of $57 billion, and in the CSRDF of about $22 billion. In other words, retirement funds have seen a "disinvestment" of nearly $80 billion in the past 3 weeks just to make space for further funding of bloated government, defense spending, and healthcare benefits

Re: Treasury has taken $80B from the G and CSRDF fund so far

Posted: Mon Jun 06, 2011 9:10 pm
by inthecloud
That's why I'm losing all of my money in the S fund...so the government can't have it! :)

Re: Treasury has taken $80B from the G and CSRDF fund so far

Posted: Mon Jun 06, 2011 10:24 pm
by Snake05LOU
Funny..... If a Union, city or state government did this (raiding the pension fund) the D-AG would be all over them throwing around threats of serious jail time in the federal pen....
I guess when the partisan hacks on both sides do it, it's not a crime, it's simply "sound policy"...

*Barf*

Re: Treasury has taken $80B from the G and CSRDF fund so far

Posted: Tue Jun 07, 2011 5:49 am
by JayJ
Snake05LOU wrote:Funny..... If a Union, city or state government did this (raiding the pension fund) the D-AG would be all over them throwing around threats of serious jail time in the federal pen....
I guess when the partisan hacks on both sides do it, it's not a crime, it's simply "sound policy"...

*Barf*


Actually, last year the government of the Commonwealth of Virginia did exactly this, and Governor McDonald is now running around talking about how he created a "surplus" without raising taxes.

Re: Treasury has taken $80B from the G and CSRDF fund so far

Posted: Tue Jun 07, 2011 8:15 am
by crondanet5
There was an article in the TSP News section above from the Federal Times that by law the treasury will post the interest earned in the G Fund on a daily basis and will pay you the value of your account when you withdraw it. So who cares what they take? The money taken from Social Security hasn't hurt that program has it? Anyhow, you might want to check out that news article.

Re: Treasury has taken $80B from the G and CSRDF fund so far

Posted: Tue Jun 07, 2011 4:23 pm
by Snake05LOU
crondanet5 wrote:There was an article in the TSP News section above from the Federal Times that by law the treasury will post the interest earned in the G Fund on a daily basis and will pay you the value of your account when you withdraw it. So who cares what they take? The money taken from Social Security hasn't hurt that program has it? Anyhow, you might want to check out that news article.



No offense, but my trust that congress to make us whole when this mess is finally delt with, ranks right up there with possibility a whistling pig eminating from my six, flying solo around the world then being crowned king of Saudi Arabia.

We're all just a bunch of over-paid, under-worked government slobs sucking at the public teat to the new house majority.

Re: Treasury has taken $80B from the G and CSRDF fund so far

Posted: Tue Jun 07, 2011 4:53 pm
by crondanet5
Read the article. The legislation passed back in the 90's --- a millenium ago.

Re: Treasury has taken $80B from the G and CSRDF fund so far

Posted: Tue Jun 07, 2011 5:32 pm
by Snake05LOU
crondanet5 wrote:Read the article. The legislation passed back in the 90's --- a millenium ago.


And who writes and amends legislation.......?
Not saying it's likely to happen, just that I don't trust any of the hacks on the hill any further than I can throw an aircraft carrier.