These people are getting ready to confiscate IRAs. Scary.
I know this is somewhat rhetorical, but how is this program created without legislation. Of all the overstepping, this one seems as cut & dried as any.
To my mind, this is scraping the bottom of the barrel to find another constituency, but will be irrelevant. If you are interested enough in saving for the future to afford a real retirement account, this is an also-ran. Otherwise, you are probably already in one of O's special interest groups.
Uh, is that legal?
Where is the constitutional authority for the president to do this?
Great, another ponzi scheme
who would be STUPID enough to put money into anything invented by Obama?
Are they Canadian ?
Is the wookie going gown on 'em ?
This is really a great ideal. Look how well it worked with Social Security. As long as he promises to put the money in ‘’lock box’, I’m sure everything will be fine.
I’m sure this will be another smashing success since BO knows so much about small businesses, their employees and “saving some for a rainy day”. Just look at how well he has managed the Federal budget.
But, of course, we couldn’t expect the details to be worked out ahead of time. He just has so many of these big, wonderful ideas. But to his mind, there are no details to be worked out. People whould just give the government access to their checking account, they will take out a set amount every month, you will have to be 98 1/2 to draw out the money and, in the meantime, the government will make far better use of it than any of the subjects could. All the details anyone ever needs to know.
Look for good or reasonable returns out of the gate...then they’ll sink the hook.
Can you say “campaign kickback”? Of course you can.
I’m not concerned about where my money is going. Nope, not at all.
It’s not that I trust Barry the Magic Mulatto. I’m not worried because I don’t HAVE any money to put into any kind of retirement fund, and I doubt I ever will.
The money will be put in a lock box.
Gubmint Lockbox Ver. 2.0 .
To be guarded by Slow Joe with his shotgun.
Lemme guess....Bernie Madoff?
Okay, here’s how I “think” he gets around legislative mandate: 1) This is a privately administered fund investing in Treasuries. 2) The Treasury only serves to regulate and oversee the private fund. 3) The Treasury is the conduit for fund transfers between the individual and this private fund. 4) Treasury can determine how and to whom Treasury bonds are sold. It’s another method of financing the government with long-term investment money with no fear of having the bonds called immediately.