*** An Oct. 18 letter from Treasury Secretary Janet Yellen to House Speaker Nancy Pelosi expressed a "high degree of confidence" that the United States will be able to pay its debts through December 3, 2021, thanks to a temporary extension of the debt limit. However, Yellen noted that the tight financial situation means that Treasury will have to suspend some investments of the Civil Service Retirement and Disability Fund and the Postal Service Retiree Health Benefits Fund until Congress passes a new debt limit extension. "Federal retirees and employees will be unaffected by these actions," Yellin wrote.
*** The Social Security Administration double-counted $100,000 of data center consolidation savings in its reports to the federal IT dashboard, according to an audit report from the agency's Office of Inspector General. The error only represented a tiny portion of the $541 million in cost savings reported by SSA. The report examined the accuracy of the agency's representations to the IT dashboard and found it to be "reliable".
Posted on Oct 19, 2021 at 2:20 AM