US Treasury says it has resumed borrowing to fund operations, repays pension fund

  • Article by: MARTIN CRUTSINGER , Associated Press
  • Updated: February 6, 2013 - 12:38 PM
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ciamanFeb. 6, 13 3:25 PM

Some might call this borrowing from the Federal Pension fund built up by the Federal workers over the decades. Others like me would call it stealing from the Federal Reserve. Billions of dollars diseappering every time the Reserve does this. And no one goes to jail at all. How nice for the officals at the FDR.

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cks1950Feb. 6, 13 5:24 PM

CIAMAN: Trying to understand your post. When you refer to the "federal pension fund", are you writing about social security where there are nothing but trillions of dollars in IOU'S or something else?

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ciamanFeb. 6, 13 9:27 PM

Thank you for asking, cks1950. The Federal Pension that the article says is that there are billions of dollars that are already funded for the Federaal workers pensions. It has nothing to do with the Social Security or Medicare. All federal workers always paid in 7 percent of their pay into their own pension fund. That is whay federal workers use to receive very nice pensions if you worked there for at least 30 years. If you worked for 40 years then that person would receive 80 percent of their pay. It was a great way of getting the people to stay and it was great, sir. Now, those are nothing like they use to be. Workers now pay into a 401 K plan and get some pension. Nothing as good as it use to be. Is that clear? Hope so. There were no IOU's in the federal pension. It was all paid for by congress. Thanks for asking. Have a good day. CIAMAN

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