PARKERSBURG, W.Va. – The retirement nest egg of an entire generation is stashed away in this small town along the Ohio River: $2.5 trillion in IOUs from the federal government, payable to the Social Security Administration.
It's time to start cashing them in.
It looks like Ex City Manager worked for the US Government. The US Gov has at least documented how much money was taken from Social Security Funds to pay for other non SSI activities. Unlike Schwab there is a traceable record. You can't take money from one pocket and spend it out of another pocket when the money was held in trust for a specific purpose or was made available via a debt bond.
Now the Feds have a problem, and so does GT. The solution is not for GT to go out and spend more money or get more debt. Unlike the FED... we don't print money. More RDA Debt just burdens us in the short and long term. It is not good for Grand Terrace, the State of California or the Federal Government. STOP this financial Hindenburg from being inflated by hot gasses coming from Tom Schwab and Joyce Powers. Stop it. Just Stop it.