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In today's Federal Newscast: Investors worry about TSP's future, if the government defaults on it debt obligations. Marines are spending more time in basic training. And the Thrift Savings Plan makes room for the new Office of Participant Experience.
That smooshy sound you hear is everyone squirming in their seats as the national-debt default looms closer. The weird thing is, the government is fully appropriated for the rest of fiscal 2023, with four months of high spending yet to go.
Now there's a Senate version of the Show-Up act, designed to get more federal employees to return to their offices to work. In fact, it's getting a lot of attention, even as the debt ceiling uncertainty continues
In today's Federal Newscast: One senator thinks preserving a secret Parisian butchers’ language was a waste of American tax dollars. Lawmakers want to know what the State Department is going to do about the huge backlog of passport requests. And the Navy redoubles its efforts on mental health.
More questions than answers surround the possibility of a government debt default. But it wouldn't be good for federal employees or retirees.
Debt default would seem, in some ways, like a government shutdown. But it's not. The government is fully appropriated for the rest of fiscal 2023. It is the money to roll over Treasury bills coming due that the government would not have.
The looming debt ceiling will occupy the first order of business for Congress again this week. Yet budget hearings and other regular stuff will also go on.
With cameras whirring, House Speaker Kevin McCarthy and other congressional leaders will meet with President Biden tomorrow.
The House is in recess this week, but the Senate will hear more budget testimony and deal with judicial nominees. Federal Drive with Tom Temin got the outlook from Bloomberg Government Deputy News Director Loren Duggan.
Congress last week took up several issues close to the federal bureaucracy. There was the Small Business Administration and its struggles with defaulted COVID loans, the Veterans Affairs Department and its troubled Electronic Health Record project, and the [Government Accountability Office (GAO's) High-Risk List.
In today's Federal Newscast: House Speaker Kevin McCarthy's debt limit proposal evokes backlash from the largest federal employee union. The Department of Homeland Security announces new measures to address AI advances, as well as threats from China. And the VA warns that the debt-ceiling proposal by House Republicans would cut tens of thousands of jobs.
Federal agencies are warning that a deal by House Republicans to raise the debt ceiling in exchange for significant budget cuts would eliminate the jobs of tens of thousands of federal employees.
Withdrawals, loan repayments, navigating the web site — TSP accounts management is still a challenge
By nearly all measures, 2022 was a terrible year for the average investor. Inflation and a host of badly-received public policies sent both stock and bond markets in bear territory. All of the Thrift Savings Plan funds, with the exception of the basically flat G-Fund, declined. For a review and some things to think about for the year ahead, Federal News Network's Tom Temin spoke with certified financial advisor Art Stein. Plus, TSP and debt ceiling updates from Federal News Network reporter Drew Friedman.