Since mandatory social security is now bankrupt, and since Obama has increased the national debt as much as all of the previous presidents combined, the gubmint need a fresh new pool of money to steal from.
So Tuesday of last week, Obama unveiled a plan to overhaul retirement savings that is eerily similar to ObamaCare in at least three fundamental ways.
Introduced as a “Fact Sheet” on WhiteHouse.gov, Pres. Obama’s plan to revamp retirement savings mimics his disastrous healthcare law:
Individual participation is required, not optional,
There’s an employer mandate,
State-run marketplaces are created
The employer mandate would require employers to “automatically enroll their workers in an IRA” – with, or without, their consent – making employee participation compulsory.
Stock market tanking before an election? No problem. Shift the peasants portfolio balance into stocks.
China quit buying into US treasuries Ponzi scheme? No problem. Shift the peasants portfolio balance into bonds.
Cause I’m from the gubmint and I’m here to help.