The 401(k) Grab is no longer just a rumor

I agree, but didn't Clinton also use Social Security to balance the budget?

 

interesting - i did not know that.

so there is a place for all these chinese treasuries after all...

 

Aren't you running late for your ACORN meeting?

 

Thanks Scataphagos.

Most of the Obama lovers on this board post from the public library computer after cashing their welfare checks.

 

Oh oh now you went and did it. Enemy of The State. Flagged by Eschelon program...........We got hit we got it on Gnome sending agents for Gnome.

 

In all seriousness if this is a true proposal this is BS plain and simple. I better roll my dormant 401k into IRA quick.

 

Probably will exempt unions.

 

IRAs are in the Government's crosshairs, too.

 

If this were to happen, IRA's would likely be included, IMO.

 

And this is precisely the reason Obama and Co. want to confiscate 401(k)'s and IRA's -- so they can use those funds to fuel more deficit spending because recent buyers of treasuries have left the building. They are going to have a hell of a time getting this through the revolving door because unlike Social Security, 401(k)'s and IRA's are currently not connected to the government. It would be pure confiscation on the government's part. I can just see the riots now.