Twenty different groups signed a letter addressed to OMB Director Jacob Lew and Treasury Secretary Tim Geithner seeking answers to several questions about how a debt default would affect federal employees.
The federal government will receive about $172 billion in August. That is not enough to pay expenses. Who will get paid and who won’t get paid if the debt ceiling is not raised?
Senator Barbara Mikulski (D-MD) sent a letter to Treasury Secretary Tim Geithner urging him to take federal employees’ pension funds off of the list of available resources used to prevent the country from defaulting on its debt obligations.
With the United States hitting the debt ceiling, can you still withdraw your money from your Thrift Savings Plan? Here is the answer from a TSP official.
The next political debate on the federal debt will be the question of raising the debt ceiling which is currently about $14.3 trillion. Since this ceiling will be reached in a short time, and since Congress has not yet voted to raise the debt limit, what will be the impact on federal retirement funds while the debate continues?
How safe is your TSP in a major recession and with extraordinarily large government debt as a common topic in the media?
