Reply #6: Disabled retired Veterans screwed because retirement fund looted!

[fknobbit]

http://pub49.ezboard.com/fvetbenefitsfrm5

Military Trust Fund Looted
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Military Retirement Trust Fund Looted
By JOHN F. YOUMANS
Sept. 16

Nothing is impossible when it comes to the present administration attempting to shaft retired and disabled veterans. Now we know why the Military Retirement Trust Fund (MRTF) can’t be used to offset a repeal of the Disabled Veterans’ Tax. According to Senator Fritz Hollings (D-SC), it has been "looted" to balance the budget.

According to a chart displayed at Senator Holling's Website, during 2001 the MTRF lost $157 billion, in 2002 $166 billion was taken, and in 2003 $174 billion. A total of $497 billion over the last three years was taken from the fund to balance a budget that isn’t even balanced.

While SECDEF Donald Rumsfeld has been saying it would cost too much to pay both earned retirement pay for serving 20 or more years and VA disability compensation for injuries and illnesses during that service, disabled vets have been saying to take the money from the MRTF. There should be enough in the fund to pay the offset just from the earned interest.

Although these unusual accounting practices take place in DC, it is particularly disturbing to retired disabled vets because the VA disability compensation snatched by DOD directly from the retirement checks of disabled retired veterans every month is deposited in the Military Retirement Trust Fund (MRTF), along with the annual full cost of retired pay. It is bad enough this happens to start with, but then to have the entire fund looted makes it just that much worse.

Most disabled retired veterans had the belief this money sanctioned under Title 10 was sacred, monitored and controlled by a separate civilian Board of Actuaries that were accountable for the fund. Oh What A Tangled Web We Weave ...

In actuality, these funds are removed and become obligations -- part of the national deficit -- and it appears the Treasury views them as revenue. I would think if the private sector did this, they would be facing possible jail time.

Something smells rotten in Denmark. I guess there is more than one way to balance the books. But then again, it all falls under the SECDEF Donald Rumsfeld. According to Title 10: "The Secretary of Defense shall provide for the keeping of such records as are necessary for determining the actuarial status of the Fund." What has he done with the money? I think he should have to account for it now. Is there anything this man hasn’t got his fingers in?

With this type of accounting, funding repeal of The Disabled Veterans’ Tax should be easy. Just have Mr. Rumsfeld add another $40 or $50 billion to the money that was looted to cover the next 10 years and let the retired disabled vets keep their full retirement pay. Heck, the money isn’t going to be repaid anyway.

In all honesty, it is not only the MRTF that gets looted, it is one of a long list including Social Security, Medicare , Civilian Retirement, Unemployment, Highway, Airport, Railroad Retirement and others for a total of $2,335 billion. But no other group of retirees have money snatched from their retirement checks and put into the fund that disappears. Civilian retirees get to keep all of their earned retirement, while disabled veterans don’t.

And to think these same people were attempting to further cheat disabled veterans by reforming Title 38, VA disability guidelines, by eliminating disabilities of those now fighting in Iraq and Afghanistan in order to pilfer even more funds. It is absolutely shameful.

In further updates of The Disabled veterans’ Tax, it appears the GOP is upset over the comments made by the major Veterans Organizations about their adamant refusal to accept the compromise that would further cheat future disabled veterans and decrease their now recognized benefits. Talks could be on hold while the National Defense Authorization Act (NDAA) conferees discuss other funding issues.

In about a week it will be too late to approve any funding for this issue. But Democrats still have Rep. Jim Marshall’s Discharge Petition that only needs 16 more signatures to force it to the House floor for a vote. Republican Rep. Walter B. Jones threatened to break party ranks and said he and about 15 to 20 others would sign the petition if a workable plan was not submitted. In addition, Rep. Mike Bilirakis (R-Fla.), said he would also sign if there was no plan submitted. However, he is trying to coordinate a plan with the White House that would permit all or partial restoration for retired disabled veterans.

US Rep. Bob Etheridge (D-NC) and other military veterans in Congress wrote President Bush a letter yesterday to urge to him to support Concurrent Receipt for disabled veterans, additional funding for VA hospitals and access to military health care for members of the National Guard and Reserves.

"I can support the President’s request for funds to help the military get the job done in Iraq, but I want to make sure that our troops and veterans don’t pay the price," Rep. Etheridge said. (Is there an implied condition here?)

"Currently, disabled veterans who are also military retirees have their retirement pay docked by the amount of their disability payments. America’s soldiers are fighting for our freedom overseas. They and their families shouldn’t have to fight the government to receive the benefits they deserve. As veterans, we know the strong words in support of our military and our veterans are a poor substitute for strong action on their behalf."