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November 15, 2012

Seniors, Get Ready For Obama To 'Occupy Your Savings

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The National Seniors Council is warning that a recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration's effort to nationalize the nation's pension system and to eliminate private retirement accounts including IRA's and 401k plans:

"This effort ultimately is designed to grab the retirement nest eggs of America's senior citizens. This new government annuity scheme, even if it is at first optional, will turn into a giant effort to redistribute the wealth of America's older citizens," explains Crone. "This scheme mirrors what I expect the President will try to do with Social Security. He wants to turn that program into a welfare program, too."
What could go wrong? After all, Social Security is doing great and workin' out so well, right? That $20.5 trillion fiscal gap separating Social Security's liabilities and assets -- its unfunded liability -- that's no big deal, right? So why not have the government take over your savings too?

Besides, as the NSC piece points out, the liberals think those 401k plans and IRAs that you worked so hard to earn and save for are "unfair to poor people." So its important that your money get redistributed to those that decides need it more than you do ... as decided by the Obamanists and their ilk.

Yes, elections do indeed have consequences.


After all, Social Security is working out so well, right?

Posted by Hyscience at November 15, 2012 3:48 PM



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