U.S. Treasury suspends government retirement, health fund payments as debt limit resets

WASHINGTON, Aug 2 (Reuters) – U.S. Treasury Secretary Janet Yellen on Monday took additional steps to preserve the federal government’s borrowing capacity under a reinstated debt limit, suspending some investments in government employee retirement and health benefits funds.

In a letter to House of Representatives Speaker Nancy Pelosi and other congressional leaders, Yellen said she was suspending investments in the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund that are not immediately required to pay beneficiaries.

A two-year suspension of the federal debt limit expired on Saturday, reinstating the cap at the current debt level of about $28.5 trillion.


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It does not look good for then USA. It will be Venezuela in a years time. That is what most of its people want and that is what they will get

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