U.S . Officially hits Debt Ceiling: Geithner raids Federal Pensions !
source: http://figrd.blogspot.com/2011/05/guest-posts-u.html
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- figgdimension
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http://www.washingtonsblog.com/
The Treasury announced today:
As US Reaches Debt Limit, Geithner Implements Additional Extraordinary Measures to Allow Continued Funding of Government Obligations
Some of those "extraordinary measures" include raiding federal pensions.
Many pundits claim that governments cannot default on their debt. But as I've previously noted:
One of the world's leading economic historians - Niall Ferguson - has previously pointed out that too much debt can drive countries into default:
There are economic professors in American universities who think they are masters of the universe, but they don't have any historical knowledge. I have never believed that markets are self correcting. No historian could...
"The idea that countries don't go bust is a joke... The debt trap may be about to spring ... for countries that have created large stimulus packages in order to stimulate their economies."
And as I've previously shown, we can't just print our way of our debt crisis.
The Treasury announced today:
As US Reaches Debt Limit, Geithner Implements Additional Extraordinary Measures to Allow Continued Funding of Government Obligations
Some of those "extraordinary measures" include raiding federal pensions.
Many pundits claim that governments cannot default on their debt. But as I've previously noted:
One of the world's leading economic historians - Niall Ferguson - has previously pointed out that too much debt can drive countries into default:
There are economic professors in American universities who think they are masters of the universe, but they don't have any historical knowledge. I have never believed that markets are self correcting. No historian could...
"The idea that countries don't go bust is a joke... The debt trap may be about to spring ... for countries that have created large stimulus packages in order to stimulate their economies."
And as I've previously shown, we can't just print our way of our debt crisis.
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- groups:
- Politics, Culture, US Politics, Progressive America, 11 more
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- tags:
- fed, Debt Ceiling, Treasury, geithner, 1 more
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Mayeffie
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Other administrations have been taking money from social security for years.
And there has been talk from the likes of Paul Volker by way of Bob Brinker's radio show of tapping into private pensions because thats where the cash is. Oh hell no!
- 1 year ago
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Mayeffie
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KB723
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I dig how they are now cutting into their own pensions, that's what they get...
- 1 year ago
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KB723
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MDBard
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KB723:
I bet its the pensions of the workers not there own.
- 1 year ago
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MDBard
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figgdimension
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KB723:
well, they buried this with the quickness :)
- 1 year ago
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figgdimension
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KB723
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MDBard:
Aww man what a Drag.... =(
- 1 year ago
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KB723
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KB723
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figgdimension:
Do you think intentionally???
- 1 year ago
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KB723
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artemis6
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KB723:
I hope not , but it is suspicious .... Great post , by the way .
- 1 year ago
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artemis6
