TaxCheat Geitner -- Hand in the Till

[flacaltenn]

This is pitiful.. Geitner came out today to mark the US debt ceiling as broken. And he has an idea...

http://thehill.com/homenews/administ...s-debt-ceiling

The steps Geithner announced Monday will free up $12 billion over two months by halting new investments in the Civil Service Retirement and Disability Fund and redeeming existing investments in that fund.

Geithner also has the one-time option of not reinvesting securities that mature in that federal employee retirement fund, as the Treasury usually would do. In that situation, the Treasury could free up $67 billion more in headroom on June 30, when some of those securities mature.

Along similar lines, Geithner announced Monday that he was slowing investment in the Government Securities Investment Fund for federal employees’ retirement, which will create another $130 billion.

OMG.. There goes ANOTHER "trust fund".. If I was a Fed employee, I'd be taking to the streets with NoOneReal.
(probably different demonstrations tho)

Even if I TRIED to understand how he can get away with this, I can't fathom how "not reinvesting (matured) securities" is not a legal suit for mismanagement of public funds..