At last week’s State of the Union address, President Obama spoke of a new retirement investment plan, called MyRA. Americans should understand EXACTLY what MyRA is and what it means to each and every one of us. It is explained in an article in Forbes by John E. Girouard entitled “Obama’s MyRA Savings Plan: Wolf In Sheep’s Clothing?”
Girouard writes: “If you were wondering how the federal government is going to unload those trillions of dollars in long-term Treasury bonds it’s been buying for the past five or so years—quantitative easing is the technical term—President Obama dropped an anvil hint in his State of the Union address last week. You’re going to buy them, with the retirement savings you’ll be putting in the President’s new MyRA program.
If ever there was a misnamed initiative this one ranks near the top. It’s a mash-up of My and IRA. It implies a greater level of possession than the familiar Individual Retirement Account, which came into being forty years ago during another retirement crisis—the 1970s, when a deep, stubborn recession drove corporate defined-benefit pension plans into the ditch.”
Don’t be surprised if President Obama issues an executive order requiring a certain percentage of your personal IRA and/or 401K accounts to be invested in government bonds, a/k/a United States debt. As the government continues to rack up trillions of dollars of debt and no one wants to buy it, you will be forced to buy this debt. You will have less money to invest in real estate or in the stock market, in your small business, or other options for your own retirement and prosperity.
This MyRA account is the government stealing more of your hard earned money to feed it’s insatiable appetite. After the lies of Obamacare and the increased costs of health care premiums, now we see the introduction of MyRA. We have to understand our labor and earnings are our property. Government is supposed to protect our property. When will this confiscatory theft of our property be stopped?
To read the complete article click here.