Comments on: Feds Use Retirement Funds To Finance Spending http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html personal finance blog with anecdotes, advice and commentary. Sun, 22 Nov 2009 06:04:27 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: jim http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4629 jim Thu, 09 Mar 2006 01:57:52 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4629 Bald Man: While that may be true, I'd like the opportunity mismanage my own funds instead of letting someone else mismanage it for me. :) Bald Man: While that may be true, I’d like the opportunity mismanage my own funds instead of letting someone else mismanage it for me. :)

]]> By: Bald Man http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4628 Bald Man Thu, 09 Mar 2006 01:53:17 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4628 jim, My point is to say that this is yet another symptom of our national financial mismanagment. As individuals, we stink; as a government, we stink; as corporations, we stink. I know this is a generalisation, but... in general, it holds true. jim,
My point is to say that this is yet another symptom of our national financial mismanagment. As individuals, we stink; as a government, we stink; as corporations, we stink. I know this is a generalisation, but… in general, it holds true.

]]> By: jim http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4625 jim Wed, 08 Mar 2006 22:20:25 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4625 I miswrote, the reason for the huge debts isn't because of a trade imbalance, it's because of government spending (duh) but the trade deficit is still a problem. It's a problem because there is an outflow of money and the US has to borrow more money to finance the trade deficit, which in the future will make loans for the US more expensive. The interest rates on US debt is so low because China keeps gobbling it up so they don't feel so bad about not re-evaluating their currency. This is a <a href="http://www.epinet.org/content.cfm/webfeatures_econindicators_tradepict20050210" rel="nofollow">year old article</a> that might be worth a read if you have the time. I miswrote, the reason for the huge debts isn’t because of a trade imbalance, it’s because of government spending (duh) but the trade deficit is still a problem. It’s a problem because there is an outflow of money and the US has to borrow more money to finance the trade deficit, which in the future will make loans for the US more expensive. The interest rates on US debt is so low because China keeps gobbling it up so they don’t feel so bad about not re-evaluating their currency. This is a year old article that might be worth a read if you have the time.

]]> By: Anonymous http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4624 Anonymous Wed, 08 Mar 2006 22:11:39 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4624 The trade deficit is not the reason we have to raise the debt ceiling, nor is it really a problem. The trade deficit is not the reason we have to raise the debt ceiling, nor is it really a problem.

]]> By: think http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4623 think Wed, 08 Mar 2006 22:04:10 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4623 They are dipping in because if they didn't we would have surpassed the debt ceiling and the social security checks and various other debts would cease being paid. Not to mention defaulting on our bonds which would be a catastrophe. Why doesn't congress pass the bill to increase the debt ceiling? The party out of power wants to use it as leverage and are holding it up. Is anyone surprised? This is politics as usual. They are dipping in because if they didn’t we would have surpassed the debt ceiling and the social security checks and various other debts would cease being paid. Not to mention defaulting on our bonds which would be a catastrophe.

Why doesn’t congress pass the bill to increase the debt ceiling? The party out of power wants to use it as leverage and are holding it up. Is anyone surprised? This is politics as usual.

]]> By: Nick http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4622 Nick Wed, 08 Mar 2006 22:03:19 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4622 Heh, maybe we'll start seeing loan requests from the Treasury on <a href="http://www.prosper.com" rel="nofollow">Prosper.com</a> soon. Heh, maybe we’ll start seeing loan requests from the Treasury on Prosper.com soon.

]]> By: jim http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4620 jim Wed, 08 Mar 2006 21:52:44 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4620 If I want to dip into <strong>my</strong> retirement then that's my choice, but you shouldn't be allowed to dip into my retirement, even if you do plan on paying it back. If I want to dip into my retirement then that’s my choice, but you shouldn’t be allowed to dip into my retirement, even if you do plan on paying it back.

]]> By: CK http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4619 CK Wed, 08 Mar 2006 21:05:43 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4619 I'm not doing it and won't so I feel free to be rather stinky. I’m not doing it and won’t so I feel free to be rather stinky.

]]> By: Bald Man http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4618 Bald Man Wed, 08 Mar 2006 20:59:33 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4618 Well, as someone who works in the retirement plan industry, I can tell you that individuals have no problem dipping into their accounts for a rainy day (loans, "hardships," in-services, etc.) Don't like the government doing it. Companies can't (legally) do it. But, if participants are doing it, then how much of a stink do we have a right to make? Well, as someone who works in the retirement plan industry, I can tell you that individuals have no problem dipping into their accounts for a rainy day (loans, “hardships,” in-services, etc.) Don’t like the government doing it. Companies can’t (legally) do it. But, if participants are doing it, then how much of a stink do we have a right to make?

]]> By: jim http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4616 jim Wed, 08 Mar 2006 20:22:54 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4616 And from what I hear, they're track record of paying it back is even weaker with SS. And from what I hear, they’re track record of paying it back is even weaker with SS.

]]> By: CK http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html/comment-page-1#comment-4615 CK Wed, 08 Mar 2006 20:08:21 +0000 http://www.bargaineering.com/articles/feds-use-retirement-funds-to-finance-spending.html#comment-4615 They've been practicing this "borrowing" with Social Security receipts for years. They’ve been practicing this “borrowing” with Social Security receipts for years.

]]>