Thread: I'm retiring as soon as I can: Senate passes budget slashing civilian agency funding

This is going to happen - sooner rather than later...

My biggest complaint is that I would rather not receive a pension and instead have maybe half of those contributions placed in my TSP account instead. Maybe as an extended match to 7% or so. Why should I contribute 6% or 10% of my gross salary to the 'G Fund' and have it permanently allocated to the 'G Fund'. That is what our pension is - and, it does not even fund the pension 'obligations'. This will likely not affect me. The last one affected new hires, but it is a very bad deal.

Anyway, they need to cut $500 Billion out of Obama's spending to balance the budget and they are squealing about $24 Billion. Out of spending of $3,500 Billion. Cutting 0.7% of the spending is cutting to the bone???

Finally, see were some of the first cuts are coming from. Those are the easy targets of current politicians. They can plead poverty and renege on promises of past politicians. This is not a true renege because we have no promise of future employment from the gubmint and because pension contribution changes will likely be for new employees - but what happens if we continue to spend a half trillion more than we take in.

I would simply like to have my Social Security Contributions NOW. Let me go my way and invest as I see fit and then let the chips fall where they may. Either I will die a Prince or a Pauper but it will be of my own doing in the name of personal Liberty.

Instead, people 18 years old are drawing from the pot of SS money that I put into while never contributing to it themselves. Thanks FDR you jack wagon!

/Rant

Frank

Originally Posted by Lakebound

I would simply like to have my Social Security Contributions NOW. Let me go my way and invest as I see fit and then let the chips fall where they may. Either I will die a Prince or a Pauper but it will be of my own doing in the name of personal Liberty.

Instead, people 18 years old are drawing from the pot of SS money that I put into while never contributing to it themselves. Thanks FDR you jack wagon!

/Rant

Frank

The L(whatever is one step more risky than LIncome) only fell 10.5% in 2008. It made it up and more within two years. So, give me the option to take my Social Security contributions, the employer match, and the pension contribution (I will definitely offer half of that as a cut) and let me invest it in TSP. Why do I want something like 30% of my gross salary to be contributed to the 'G Fund' and be stuck there forever? Is that really a benefit or is it a Ponzi scheme? The Federal Gubmint borrows the money for a week and rolls that debt into new borrowing next week at an interest rate they define (it is NOT defined by the Fed) and those 'assets' can be monetized every year for the annual fiscal emergency of spending lots more than is brought in. Yeah, that is what I want to invest in.

By the way, the Federal Gubmint brings in $100 Billion more in revenue (inflation adjusted) than FY2007. It, however, spends $400 Billion more (inflation adjusted) than FY2007. Cut the spending to FY2007 and the budget is close to balance. And, we cannot cut $24 Billion out of expenses when the expenses have bloated $400 Billion. And, yes, both the FY2007 and FY2014 revenue/expense numbers include the war effort - and FY2007 was the surge year. Yowser...

Yeah, I want to invest in rolling debt at extremely low returns. Sounds good to me