U.S. Treasury Dips Into Pension Fund

Yesterday we posted on how Americans were dipping into their savings and pensions to keep their bills paid and to buy more crap they still can't afford.

Today we find an article that says the Treasury is also dipping into retirement funds to keep the bills paid.

WASHINGTON (Reuters) - The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills.

"I will be unable to invest fully" the federal employees retirement system fund beginning Tuesday, Treasury Secretary Timothy Geithner said in a letter to Democratic and Republican leaders in Congress.

The House of Representatives is expected to vote on Wednesday on the Obama administration's request to raise the country's legal debt limit to $16.394 trillion.

However, unless the lower chamber and the Senate are able to shore up enough votes to block the White House request, the debt limit will be increased by $1.2 trillion next Friday and a repeat of last year's debt ceiling debacle will be averted.

Here;  http://www.chicagotribune.com/news/sns-rt-us-usa-debt-treasurytre80g20r-20120117,0,3458470.story

As we look at the news of American consumers running out of money they never had in the first place....and the U.S. Government doing the same, we think of how few in this nation truly fear the Lord.  And of course without fear there can be no wisdom.  We then read Proverbs 17:16 which tells us; "Of what use is money in the hand of the fool, since he has no desire to get wisdom?"

Isn't that the truth?!  Its like a big circle of truth....no fear, no wisdom....no wisdom means you're a fool and fools won't have money for long.  That about sums up the American condition.