U.S. To Suspend Pension, Retirement Funding: Lew!!! The Next 24 Hours May Be Critical For The Debt Ceiling!!!

Monday, February 10, 2014
By Paul Martin

February 10th, 2014

WASHINGTON (MarketWatch) — Treasury Secretary Jacob Lew told Congressional leaders Monday that he is taking two extraordinary measures to avoid hitting the debt limit. In a letter, Lew said he will suspend debt issuance for the Civil Service Retirement and Disability Fund and not invest fully in the Government Securities Investment Fund of the Federal Employees’ Retirment System. Lew said that the actions were taken “during previous debt-limit impasses,” and that both funds “will be made whole once the debt limit is increased.” Federal retirees and employees will be unaffected by these actions, he said.


Social Security being shut down for 62 hours starting 2/15/14

The Social Security computer system will be down from 3 p.m. EST (2000 GMT) on Saturday until 5 a.m. EST (1000 GMT) on Tuesday, February 18, CMS said. CMS said those who have already completed an application will still able to shop or select a plan through the website.


The Next 24 Hours May Be Critical For The Debt Ceiling

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