Is anyone paying attention???
March 9, 2006
The Treasury Department has started drawing from the civil service
pension fund to avoid hitting the $8.2 trillion national debt limit. The
move to tap the pension fund follows last month’s decision to suspend
investments in a retirement savings plan held by government employees.
In a letter to Congress this week, Treasury Secretary John W. Snow
said he would rely on the Civil Service Retirement and Disability Fund
to avoid bumping up against the statutory debt limit. He said the
Treasury is suspending investments and will redeem a portion of the
money credited to the fund.
Source: The Washington Post
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