What happens when a government promises everyone the moon–or at least pieces of it? Well, something has to give when it runs out of moon pieces:
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.
Federal employees will be quite happy to hear that they may be called to sacrifice for the cause. Right?