I'm always amused when my father-in-law complains about living on a fixed income because my income is pretty-well-fixed too. It could make for great debate sitting around a Thanksgiving bird. I'd be wise to wait until the carving knife is safely out of reach.

The only entity that truly does not run on a fixed income is the federal government. (Or counterfeiters. In both cases, they'll just print more.) You know where this is heading: the NCUA issued its 2011 budget at its November board meeting, and it's a doozy.

Despite being a federal agency, the NCUA is unique in that it is funded by the credit unions it regulates and insures. Even though the NCUA increased the overhead transfer rate, the amount of funds transferred from the NCUSIF to the agency for insurance-related work, from 57.2% to 58.9% to cover an increase in insurance-related costs, the agency still boosted its budget by 12% or $24.5 million. Pay and benefits increased $17.1 million, or 12% agency-wide. Specifically, 37% of that increase, or $6.3 million, is due to the 6.1% pay increase mandated in the union contract, which covers 80% of the NCUA's workforce. So, that comes to 967 employees receiving an average pay increase of $6,514. Any CUs handing out this size pay raises?