Thursday, March 28, 2013

They took their money in Cyprus

There are $91 Trillion Dollars in the American Citizens 401Ks.

There has already been talk during the first 4 years of Obama's Regime about seizing this money. Back in 2010 our Vice Village Idiot floated the idea.

In February, the White House released its “Annual Report on the Middle Class” containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through “retirement security” options.
The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement — which lets them off the hook for their collapsing retirement scheme.  And, of course, the Obama administration is eager to accommodate their buddies.
Vice President Joe Biden floated the idea, called “Guaranteed Retirement Accounts” (GRAs), in the February “Middle Class” report.
In conjunction with the report’s release, the Obama administration jointly issued through the Departments of Labor and Treasury a “Request for Information” regarding the “annuitization” of 401(k) plans through “Lifetime Income Options” in the form of a notice to the public of proposed issuance of rules and regulations. (pdf)

Now this was 3 years ago before the Debt was at 16 Trillion. Remember by the time this Regime Leaves office the National Debt will hit 20 Trillion. The unfunded Debt from Medicare is already $55 Trillion.

After what the EU did to Cyprus, and are planning to do to Spain, Italy, Portugal, and possibly France. Do you really think that the current lot in the WhiteHouse wouldn't do just what is proposed above?

I mean it would be for the Common Good. Only Rich people with good jobs can have a 401K, and besides that's all pre-Taxed Money. It's just not fair.

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