Government Run As A Business

[4too]

Government Run As A Business


""Treasury Dept. Moves to Avoid Debt Limit""
http://dailynews.att.net/cgi-bin/ne...=frontpage&st=frontpageap20060306_813&src=abc

ABC News:

Treasury Secretary John Snow notified Congress on Monday that the administration has now taken "all prudent and legal actions," including tapping certain government retirement funds, to keep from hitting the $8.2 trillion national debt limit.

In a letter to Congress, Snow urged lawmakers to pass a new debt ceiling immediately to avoid the nation's first-ever default on its obligations.

"I know that you share the president's and my commitment to maintaining the full faith and credit of the U.S. government," Snow said in his letter to leaders in the House and Senate.

Treasury officials, briefing congressional aides last week, said that the government will run out of maneuvering room to keep from exceeding the current limit sometime during the week of March 20.

Snow in his letter notified lawmakers that Treasury would begin tapping the Civil Service Retirement and Disability Fund, which Treasury officials said would provide a "few billion" dollars in extra borrowing ability.

....

For the past 30 or 40 years conservatives have been whining that government SHOULD be run like a business ..

Well, think of all the corporations seeking to evade their commitments to employee compensation by defaulting on pension and other retirement packages ....

The new age of Corporate Cronyism has dawned!

Wonder what the appropriate, mood altering intoxicant is, Prosac, Meth Amphetamine, FOX Media?

U.S. Corporations have been defaulting on traditional pension plans, even when these funds were anchored in profits from that cornucopia called the Stock Market.
401's are not exempt, looting the FERS program EXPLOITS 401 (or IRA) style employee contributions of Federal employees, unless ALL losses are compensated. Who is watching the hen house?

If this is a Congressional or Executive branch fiscal over site, WHY, ARE NOT the appropriate retirement funds looted?

Why can't the millionaires in the Executive and Congress cover for their
performance short falls ...

Wait, ... , that would presume --- fairness --- and responsibility ...

No, saint Machiavelli foretells: it's all about ... power ...

It's all about POWER isn't it .... and double standards ...

The populace conforms to rigid moral and fiscal standards.

The powerful, do what ever they can get away with.

The sad thing is, .... , this is not cynicism, it is how the world of intelligently designed sons of Adam ... live large ...

Reality. It's all just-a hip hop, and a ''shot away'' from GTA, ain't it ....




4too

 

[Montez]

Why can't the millionaires in the Executive and Congress cover for their
performance short falls ...

I would love to see this, if only to find out who drops out of politics completely and what new kind of political animals take their places.

 

[4too]

No Suspense, No Drama

No Suspense, No Drama



http://dailynews.att.net/cgi-bin/news?e=pri&dt=060316&cat=news&st=newsd8gcs6o0d&src=ap

""Senate Votes to Raise Debt Limit""

WASHINGTON (AP) - Congress agreed to let the government borrow another $781 billion Thursday, allowing lawmakers and President Bush to pay for the war in Iraq and combat terrorism without raising taxes or cutting popular domestic programs.

The Senate, on a 52-48 vote, sent to President Bush a bill raising the ceiling on the national debt to nearly $9 trillion and preventing a first-ever default on U.S. Treasury notes. When the government reaches the new ceiling, expected sometime next year, the debt will represent $30,000 for every man, woman and child in the United States.

.....

Most commentary I heard on this predicted the posturing over line items would quickly fade and the debt ceiling would be raised.

All the storm and fury vectored at - arab - corporations that 'might' have delayed this vote, never came close to derailing these professionals. Their instinctive
rally was easy to anticipate, since they are gambling with other people's money.

... Before approving the bill, Republicans rejected by a 55-44 vote an amendment by Max Baucus, D-Mont., to mandate a Treasury study on the economic consequences of foreigners holding an increasing portion of the U.S. debt.

At present, foreign countries, central banks and other institutions hold more than one-fourth of the debt, but that percentage is growing rapidly. ......

For better, and for worse; in sickness and in health; until death do us part, America's out sourcing will continue, including our last domestic 'growth' commodity, our national debt.



4too