âMnuchin said both funds would be made wholeâŚâ Donât count your chicken there MnuchingâŚthese rabid dbags will surprise you every time how willing they are the screw the middle class.
Yep! Letâs see if what he said actually holds true later onâŚ
OK, I am confused. Besides this being a crappy thing to do, what does government funding have to do with the Postal department? From a while ago, I remember that the Post office is the one place where they prepay the retirement for workers they will ever hire and that is why they are in constant debt. no one else has to pay for people they have not hired yet. SO⌠does this mean that on top of that onerous debt, the government is stealing their money? What does the budget have to do with their the postal retirement plan?
âThe Congressional Budget Office estimates that Mnuchin likely has enough maneuvering room to avoid a catastrophic default on the national debt until around September.â
Given the level of his incompetence, Iâd say next ThursdayâŚ
So Mnuchey howâs that Tax Cut, Cut, Cut Act doing at reducing our debt thingy?
Letâs see, fulfill our obligations to employees and retirees, or keep unsustainable corporate and ultra-rich tax cuts? Tax cuts it is!
Since it doesnât matter for what the funding is for. Mnuchin should use DoD money to pay the contributions to the retirement funds, and then use some more to pay debt holders. The wall can wait.
The Federal Budget has now become the National Ponzi Scheme.
yet another attempt by this fascist administration to screw over groups they perceive to be mostly Democrats.
ââI respectfully urge Congress to protect the full faith and credit of the United States by acting to increase the statutory debt limit as soon as possible,â Mnuchin said in his letter.â
Funny how important the âfull faith and credit of the United Statesâ becomes when thereâs a Republican president. In 2011, we were told repeatedly that a little default was no big deal. [Hint: Itâs a huge deal, which would have negative impacts on the US economy and the use of the dollar as the worldâs preferred currency.]
I wonder if the USPS can also quit paying into the Postal Service Retiree Health Benefits Fund? That it has to pay into the fund at a rate no other business must is the greatest reason the Postal Service always runs in the red. It has to pay at the exorbitant rate because Congress dictated it must. The unrealistic demands were foisted on it in an attempt by Rethugliklan congressmen to drive it out of business so they could turn mail delivery over their parasitic privateer buddies.
Hmm. Now that Iâve written âRethugliklan congressmenâ and âtheir parasitic privateer buddiesâ in the same sentence I guess Iâve answered my question.
ETA
Would a political party whose only demonstrable competence is looting steal money? Asking for a friend.
Welcome to the Private Sector!
Remember why all the private employees are pissed about public sector pensions? No? Well, it all started when a corporate board got together and realized that they could easily puff up their own bonuses by screwing their employee pension funds, paying off their corporate debt with it, and lowering employee pay by so-called âprivate savings accountsâ, e.g. telling the employees the money that had been paid into retirement wasnât âtheirâ compensation, but something the lofty corporate board was doing from the goodness of their heart, and if they want more than Social Security, to deduct it from their own income.
WASHINGTON (AP) â Treasury Secretary Steven Mnuchin informed Congress on Monday that he will stop making payments into two government retirement funds now that the debt limit has gone back into effect.
This makes sense, as no one is going to see retirement once Trump goads an adversary into initiating a nuclear holocaust.
And even if he doesn't it's Trump's money after all, what business is it of ours?Under funding pension funds is one of the best ways to commit wage theft.
The administration that makes the decision to do it is almost never around to answer for it when the consequences hit.
It makes me sick to think of all the people that wonât know that theyâve just had a large portion of their retirement stolen from them until it far too late to do something about it.
That struck me as well - but I donât have enough understanding about the Post Office retirement fundâs structure to even guess at the meaning, and/or implications. I hope someone does and can give some additional information/understanding.
Steve âLafferâ Mnuchin is poring over the Internal Revenue Code in an attempt to identify what further tax cuts are necessary so that Come September, everything wrong gonna be alright.
Sounds a lot like the untold billions Congress has borrowed in Social Security funds â and have yet to pay back.
Sure, Associated Press, thatâs exactly how things transpired in 2011. It was a mere budget battle between Obama and Republicans which had absolutely nothing to do with Republican hostage-taking to exact policy concessions.