Washington just dipped into retirement savings to fund itself

You know things are getting bad when your government begins to stick its hand into retirement accounts just so that it can remain solvent for a few more months.

With the debt limit about to come back into full swing at a staggering $18.1 trillion this week, Treasury Secretary Jack Lew has undertaken drastic measures to kick the can down the road until later this year.

One such plan to fund the government includes raiding the Thrift Savings Plan (TSP), a 401(k)-style retirement savings plan set up for federal employees.

Specifically, the Treasury wants to go after the G Fund, the largest fund in the plan, which contains Treasury securities that help to finance the national debt. As of last month, those securities in the G Fund make up $193.3 billion of the $451.7 billion of investments in the TSP.

FK – When the governments are finally forced to admit they’re broke everything will change…

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