Guess what federal workers? Obama just stole your retirement money!

So, what's a bunch of spendthrifts gonna do when their credit cards are maxed out and the bank account's gone empty? Raid the retirement fund!

Ruh roh. This won't end well.

And, nevermind that if a private company tried doing this the entire management team would go to jail.

The measure won't have an impact on retirees because the Treasury is legally required to reimburse the program.

ROFL. Listen up guys, if you believe that one, I've got a bridge in Brooklyn you can have, cheap.

New Jersey pulled this stunt a few decades ago. And when the politicians discovered just how much fun it was they dove in with real gusto. They piled loan upon loan. Now our public pension plan is gutted, bordering on insolvency. And I assure you, the state may also be "legally required" to make it whole, but since the well has run dry all the legal requirements in the world don't mean a hill of beans.

Tim Geithner and Barack Obama surely know how this game ends. They're just counting on all you federal workers not being smart enough to see through their guile.

You know what's funny? ("funny" ironic, not "funny" ha-ha) If it was a Republican raiding their cookie jar the public employee unions would be marching on Washington with pitchforks and boiling oil. But with all they've invested in putting Captain Hopenchange in charge they're naively banking on a magic unicorn around the corner who'll solve all their problems.

Good luck with that.

UPDATE 17 May 2011 08:08:
Linked by Theo Spark and Larwyn. Thanks!

Posted at 16:12 by Chris Wysocki   [/obama_watch]   Comments | Perm Link |
Technorati Tags: Obama Tim-Geithner debt-ceiling pension federal retirement   |   Tweet