The Gov't is Looting Your Retirement Fund!

[nnuut]

I am not CSRS, but I was told once that the funds in CSRS are in a "lockbox" - meaning that the clowns can not "borrow" out of it.

Thus the reason creation of "FERS" (according to them) to get people out of CSRS so the gov. circus performers could raid the henhouse of all the nest eggs. So is this true or has that CSRS dough already gone the way of SS??

Seems to be true, BUT: CSRS
4. “This fine retirement comes right out of the general fund: our tax money.”

This statement omits crucial information about the financing of the federal retirement system. When federal employees and their employing agencies make contributions to the CSRDF, such money is deposited in the general fund, and a government security of equal value is created and credited to the CSRDF. These securities are backed by the full faith and credit of the U.S. government and have the same standing as U.S. Savings Bonds. When funds are needed to pay retirement benefits, securities credited to the CSRDF are converted to cash with money from the general fund.

This assertion also attempts to make the reader forget that U.S. taxpayers are the employers of members of Congress and other federal employees. The Bureau of Labor Statistics reports that 97 percent of all medium and large employers in the United States pay for their employee retirement pension benefits without worker contributions.

Finally, many of the same false claims and arguments being circulated about members of Congress also have been used against federal retirement and health benefits in general. Perpetuation of these false claims undermines NARFE’s efforts to preserve our earned compensation. NARFE members also should recognize that there are a number of lawmakers—past and present—who are fellow members of NARFE.
http://www.narfe.org/departments/guest/articles.cfm?ID=408

 

[burrocrat]

MAD DOG 20/20!

http://www.bumwine.com/md2020.html

the strawberry was good, a little bittersweet,

those memories they last.

 

[dannyboy]

I guess I was dating myself as I know what ripple is (most people born in the late 70s, early 80s would not know) but I have no idea what MD 20/20 is:embarrest: And $2 a bottle seems high as you can get a six pack of Old Milwauke (sp:embarrest for under $5. Is MD 20/20 like Colt 45 in a brown bag?

MAD-DOG 20/20 "THE ONLY WINE THAT NEVER SEEN A GRAPE" It's like a funky carmel soda w/ alchohol taste?
DB

 

[Elgallo]

The first time I drank that S%^& I broke out with hives all over my body. The stuff is loaded with sulfates.