Full Steam Ahead On Obama’s Theft Of IRA’s And 401k’s

Angry Obama SC Full steam ahead on Obamas theft of IRA’s and 401k’s

What is going to happen to our 401 (k) accounts and IRA’s after January 1?  Will the retirement accounts for which many Americans have sacrificed so much to accumulate be rolled over into federally issued and guaranteed bonds in order to prop up notoriously under-funded, union pension funds across the country?  Getting an answer will prove to be daunting, especially as media attention seems focused on little but the impending “fiscal cliff.”

Listening to a poignant, impromptu speech given by Linda from St. Lucie County during the Allen West recount makes clear just how hard she worked to raise three daughters on her own. It’s a story that certainly puts a tear in the eye and an ounce of worry into the heart of many listeners.  ”I worked hard to save that money. We went without,” she said, getting more emotional with each word. ”Now, what’s going to happen to 401 (k’s)?” she asked.

My daughter is wondering the same thing as she and her husband will have four boys in college next year. And she sacrificed to save for her retirement when she was a bank employee.  She had a gun put to her head during two separate robberies!

Linda and my daughter both want to know what the Obama administration intends to do after January 1. Is the national media so distracted by fiscal cliff hype that news concerning the potential federal theft of countless trillions from American citizens will not be forthcoming prior to January 1st?

A source in Montana said the feds are hoping to turn 401 (k) and social security funds into federally administered bonds, thereby dumping even more privately-held dollars into the D.C. money pit.  Another source thinks that such a fund may be used to bail out Obama’s union pets, namely the failed pension plans of big labor throughout the United States.

A 2010 letter sent by congressional Republicans to the Secretaries of Labor and the Treasury says: “We write today to express our opposition in the strongest terms to any effort to NATIONALIZE the private 401 (k) system, or any proposal that would dismantle or disfavor the private 401 (k) system in favor of a government-run retirement security regime!”

A 2010 administration report on the Middle Class cites Vice President Joe Biden, who “floated [an] idea called Guaranteed Retirement Accounts’ (GRAs).”  Of course, Big Labor is clearly behind these proposed GRAs, which would include a “bailout of critically under-funded, union pension plans through retirement security options.”

Will all of this result in yet another enormous hedge fund and insurance leverage plot guaranteed to make a massive hole in the private worth of American taxpayers? Rest assured, the D.C. ruling class will stop at NOTHING to obtain the financing necessary for the continued purchase of votes and maintenance of power.

At the end of 2010, there was an estimated 17.5 trillion dollars in United States retirement assets, including 3.1 trillion in 401k’s and 4.7 trillion in IRA’s. The idea that those who thrive on money and power would permit such an alluring trove to go untapped is laughable.

Photo credit: SS&SS (Creative Commons)

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  1. If that f u c k I n g n I g e r touches my money, his head will whistle like a peanut wagon.

  2. The a88hole just won't quit robbing the middle class.

  3. transplantedpeach says:

    Ohhh my! This is indefensible, incorrigible and unpardonable. Is this some sort of preliminary prophecy
    run through??? They're behaving like automons, oblivious to the outrage, questions, exchanges on legalities and ALL OF IT!!!

    I heard that Greece (of all places, right?) would be the safest place to be when this OPERATION hits its apex. I would have never guessed Greece.

  4. Edwardkoziol says:

    Everybody thought Big Al Capone was dead, now we know he was reincarnated as Obutthole and his gang of merciless marauders..You have Fatty Assholerod,Queers Emanuel, Bonnie Jarrett these people would rob the gold out of a deadmans mouth.The other gang is headed by Joe Bite Me Biden,Gay Hitlary Clinton,Jimmy Codewords Clyburn and Plastic Nanny Poopalosi these people would dig up bodies to make sure there were no valubales in the caskets.American people be on guard for these thieves are out to get you.

  5. GetAJobGetALife says:

    At least you know where you stood with Al Capone, He either liked you or he didn't, he either let you live or he didn't, your either paid him his 10% or you got your knee caps busted.

    • Edwardkoziol says:

      GetA we sure don't know where we stand but before the end of his evil regime we'll all be paying higher taxes to support his welfare system and the distribution of wealth.

  6. Linda A. From NY says:

    There is a word for this and is called stealing, stealing one's hard earn money to give it to union thugs and when is not the union thugs, is the muslim brotherhood thugs.

    Has anyone notice, that obama is very generous with taxpayer's money? everytime he travels to some third world country, he promises to give them billions of our money, while Amerians continues to lose their jobs and struggles to make ends meet.

  7. IRA's will be worth $0 if there is a financial collapse of the money system. Obama and congress can't even operate with a budget. Things are hay wire in America in every direction with even black celebrities friends of the White House promoting the fun of killing white people. The country is a total disaster.

  8. More of the gov. finding a fund that is working and taking it over. Remember Social Security and Medicare? The only gov. funds with money. They took over those funds and now where are they? When the gov. runs it, they spend it wherever they want and then blame the people who pay into it and demand more tax money to keep them going. We are SO stupid to see what they do and continue to let them do it.

  9. Cracker101 says:

    The evil one will not stop with your 401k and your ira he will clean out your bank account and your savings account and if you have anything of value in a safe deposit box get now, they have the authority to open your safe deposit box.

  10. Thats why more people are investing in gold now because paper currency will devalue every year but gold price increase each year.
    [youtube NocsyM9aW7g http://www.youtube.com/watch?v=NocsyM9aW7g youtube]

  11. I don't what to say but this is not good. There are some pros and cons.

  12. Just to make sure for this. We need to work hard and save lot's of money for our future. We need to have a lot's of business and not only relying to our employments or current job.

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