Feds using pensions to stay out of default

Sploid reports:

Back in 2004 the federal government was approaching its debt limit. Without quick action, the country would be in default.

Rather than the federal government increasing revenue (raise taxes) or reducing costs (cut spending), Congress decided to simply legislate the debt ceiling upwards by $800 billion. Problem solved.

But the problem was merely put off until January 24 of this year when the Treasury Department website declared it was in technical default to the tune of $1 billion.

Amazing.The monopolist tells you what you can do with a pension fund and then turns around and violates the rules.