They are going to have to sell trillions in Treasury bonds to pay for the bailouts. The Asians aren't buying them any more. You figure it out.
While this will never happen, is it really such a bad idea? Most everyone, no, make that everyone I work with, associate with, or otherwise know outside of the trading world has been killed in their 401K's and IRA's. Heck, 3 out 4 topics on this board refer to the utter stupidity of the average investor. Do you really think the typical 401K/IRA guy is ever going to be able to retire? Aren't they just going to end up being a burden to taxpayers one way or the other?
I can't believe any of you didn't check the source. the "John Locke foundation" responsible for this "journal" is an ultra right wing fear mongering rag....no way in hell is the congress ...Republican OR Democrat...thinking of this. This thread belongs back in chit chat.
It's real - its true --- America is broke. 4 Trillion $$ sittings in accounts for the Gov to leverage. RE- DISTRIBUTION
I have neither money (much) nor power (any)..I do have age and I remember a time when people really did believe in "what can you do for your country?" rather than "what can your country do for you". The change I am looking for is what we had BEFORE Regan when we believed in the power of people doing good, in helping your neighbor, trusting your friend. A rising tide does lift all boats, but "trickle down" economics doesn't work nor will it ever work. We need to focus on how we can leave a brighter future for our children and their children, rather than where we want to retire.
Yes it can pass. All the government has to do is make people very fearful. When people are scared they will go crawling to Washington begging them to take over their 401K's. The government will not have to force this upon anyone.