Sunday, February 21, 2010
Obama and Democrats Plan to Take Your 401k?
This sounds like a joke, but you just can't make this kind of stuff up. Desperate for money to continue their spending spree, President Obama and Democrats are are investigating the possibility of forcing you to invest your tax deferred 401k in 'goobermint' paper like U.S. Treasury bonds. The Chinese aren't going to keep financing our record deficits, so Team Obama has to have a Plan B. Your private retirement money is at the top of their list. Of course, we would already be buying U.S. Treasury bonds if it wasn't for low returns and concerns the skyrocketing deficit might cause the the government to default on them.
IBD reportes the story: