All these countries have raided, confiscated, borrowed or otherwise appropriated private pension funds trying to pay their country’s massive debt. Our government long ago spent all Social Security funds. Lockbox, hardly. They have spent beyond their means for donkey’s years -both parties, several presidents back. That lockbox has been empty for a long time and those obligations come right off the top of any revenue collected each month (same with Medicare). Just tax the rich. Really? The fiscal cliff is a hoax!
THEY ARE NOT EVEN TALKING ABOUT THE MASSIVE DEBT OF UNFUNDED LIABILITIES!
So, How’s Your 401K?
The U.S. federal government held hearings last month (Nov 2012), sponsored by the Treasury & Labor Departments to explore implementation of yet another government takeover. But this time, it’s not GM or the student loan industry, it’s your personal retirement funds!
Dr. Teresa Ghilarducci’s grand scheme first exposed on the Mark Levin Show in 2008 is coming to fruition and slightly more that half of us just gave Obama permission to do it.
~just a blogger (fightin’ like a girl)