*BREAKING*…Obama To Unveil Plans For New Treasury IRA…

President Barack Obama works at his desk in the Oval Office of the White House in Washington, Monday, Jan. 27, 2014, ahead of Tuesday night's State of the Union speech.  (AP Photo/Jacquelyn Martin)

President Barack Obama works at his desk in the Oval Office of the White House in Washington, Monday, Jan. 27, 2014, ahead of Tuesday night’s State of the Union speech. An office sometimes can create a certain sense of stress which may lead you to finding ways of distraction, one of these could be massage chair recommendations where you can find ways of getting away from stress.(AP Photo/Jacquelyn Martin)

Ever since Obama took office rumors have been running rampant about the possible seizure of people’s IRA funds…or plainly stated, the government generously helping to manage your retirement savings.  Wait no longer.  Buried towards the end of the following AP report is the following:

… Obama will also announce executive actions on job training, boosting employment opportunities for the long-term unemployed and expanding retirement savings for low- and middle-income Americans.

The retirement savings proposal is geared toward workers whose employers don’t currently offer such plans. The program would allow first-time savers to start building up savings in Treasury bonds that eventually could be converted into traditional IRAs, according to two people who have discussed the proposal with the administration.

Although this isn’t yet the mandatory IRA, it’s certainly a step in that direction.  Remember what they did in Poland?  Don’t worry…I’m sure the government is just trying to protect your retirement account from terrorists.

Obama-I-want-your-money1WASHINGTON (AP) — Frustrated by years of partisan gridlock, President Barack Obama is moving to flex his presidential powers during his sixth year in office. He’s starting by using Tuesday night’s State of the Union address to announce executive actions to raise the minimum wage for new federal contracts, help the long-term unemployed find work and expand job-training programs.

Obama’s go-it-alone strategy, with modest steps for now, is aimed both at jumpstarting his stagnant second term and prodding a divided Congress to take additional action to boost economic opportunity for millions of Americans. But there’s little indication lawmakers are ready to follow along, particularly as the nation barrels toward the midterm elections.

Keenly aware of Congress’ slim record of recent accomplishments, White House officials see a robust rollout of executive actions as the most effective way to show the public that Obama still wields power as the clock ticks on his presidency.

“Congress is slow to action, and we’re not going to wait for that,” White House chief of staff Denis McDonough said in an interview on “CBS This Morning.”

Yet much of what the president can do on his own is limited, as evidenced by the minimum wage proposal officials previewed ahead of Tuesday’s prime-time address, which will be viewed by millions at home. The executive order will increase the minimum hourly payment for new federal contract workers from $7.25 to $10.10. But because the measure affects only future contracts, its immediate impact will be minimal.

“The question is how many people, Mr. President, will this executive action actually help?” said House Speaker John Boehner, R-Ohio. “I suspect the answer is somewhere close to zero.”

The White House says the wage hike would most benefit janitors and construction laborers working under new federal contracts, as well as military base workers who wash dishes, serve food and do laundry. But officials did not say how many people would fall into those categories.

Obama will seek to build on the executive order by renewing his call for Congress to pass a minimum wage increase for all American workers, a proposal that gained little traction after he first announced it in last year’s State of the Union address. But White House officials feel somewhat optimistic that they could get backing this year given that some Republican lawmakers have also indicated an interest in working on income inequality and economic mobility issues.

Washington’s current focus on inequality comes as many parts of the economy are gaining strength. But the soaring financial markets and corporate balance sheets stand in contrast to the millions of people still out of work or struggling with stagnant incomes that don’t stretch as far as they used to.  (Read more…)

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About Ad rem

Millions of little gray cells wrapped in fur.
This entry was posted in Conspiracy ?, Cultural Marxism, Decepticons, Economy, Fabian Socialists - Modern Progressives, Statism, Typical Prog Behavior, Uncategorized. Bookmark the permalink.

39 Responses to *BREAKING*…Obama To Unveil Plans For New Treasury IRA…

  1. Sharon says:

    👿 X 20000 or something – whatever Tex would do….. 👿 to infinity

    Like

  2. ctdar says:

    Obama thinks he is untouchable but he will step over the irrefutable line very soon so obviously that no one in congress will be able to overlook.
    I pray that day comes this year.

    Like

    • justfactsplz says:

      Amen to that, this year for sure.

      Like

    • AdukeLAXobserver says:

      He thinks he is untouchable because he is untouchable. Republicans don’t have the votes to remove him. They likely never will. They are going to have to do it with no votes in the senate from democrats. And honestly, after the Clinton impeachment, I don’t think they want to go through another impeachment anyway. It doesn’t play well for them in the press.

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  3. czarowniczy says:

    Fist try at this that I remember was during the Klinton years when the idea of mandatorily moving some percentage of every employee’s IRAs into a Federal fund that would underwrite the rebuilding of the innercity would be mandated. Confiscated funds would earn the Fed rate plus a smidge and IRA holders would get a warm-fuzzy for contributing even more of their wealth to the DemocRATic voting base. That kite was shot out of the sky rather quickly.
    I can see certain leftish Congresspersons suggesting this but can’t see any practical way of getting it installed without a revolt in the streets. The damage to the financial system would be hard to calculate but I’m presuming it would be ‘considerable’. Main problem I see is that your retirement funds wouldn’t be earning anything, they’d just be underwriting the national debt – does anyone think for a minute that Congress or the White House would stop piling even more debt on top of the debt retirement savings were bailing out?
    Then again, with the Medicare changes looking more and more like a Federally mandated euthanasia program, maybe this is a cunning way for the Dems to get their hands directly on retirees’ estates.
    As for Poland – they’re suffering under the weight of leftovers from their Communist past while we’re struggling with getting used to our Communist future.

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  4. texan59 says:

    The IRA thing has been bandied about for years. The big kicker is that if all the 401(k) and IRA money were pulled out of the stock market, it would completely devastate the markets. That doesn’t mean they won’t try. What a lot of people don’t realize is that almost every vehicle out there designed for retirement is a “gift” to you from the gubmint. One they can also take away. Anything from a pension to 401(k), 403(b), IRA, Roth IRA, the list goes on and on. There is very little to prohibit them changing tax advantages at any time. How much POTUS can attempt to do on his own is unknown. What Congess can do is virtually unlimited, if they so desire. Now, as the czar points out, all of them would most likely be met with pitchforks. I don’t know how much pushback the feds would get from Wall St. by pulling money out of mutual funds, etc., but I would guess it would be massive and quick.

    Do not doubt that Bronco Bama will try to get away with whatever he can. Podesta said earlier today that he most likely will act on his own on climate change and energy transformation.

    http://www.cnsnews.com/news/article/susan-jones/podesta-obamas-warmed-executive-action-will-use-it-climate-change-and

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    • Ad rem says:

      I’m guessing that they’ll roll it out in incremental steps….
      1. Introduce the Treasure R-Bond…just needs Executive Order. Pays no interest ’til you retire. But “guarantees” full faith and credit, yada yada yada
      2. Get Fed Reserve to continue to force interest rates down, thus enticing people to move their retirement money into R-Bonds ’cause that will make more.
      3. Add “inflation protection” to R-Bonds so people move retirement money from bonds into the R-Bonds. Again hoping for bigger returns.
      4. The stocks won’t suffer because interest rates will continue to be low, money will be flowing from the Fed like water, people will be bidding up stocks just as they are now.

      The basic Obama strategy is to get the retirement money NOW and give you an IOU for when you retire. Of course its a fraud, will collapse in the long run… but that’s Cloward – Piven. Eventually all this generates the “Mother of All Crashes”, people turn to the Feds for help, and Obama and his types will be happy to comply.

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      • texan59 says:

        IF……. they do something like this incrementally, it could actually aid those lower income folks who save absolutely nothing. Thing is…. nobody would bite when they wanted to essentially do the same thing with SS. The whole interest rate thing is the the kicker. Right now I market products where folks are getting anywhere from 0 to 20% without being “in” the market with their retirement funds. With no risk of market loss. Folks who keep money in a CD would very likely buy into something like this. My point is that to truly make it work, they would have to confiscate all the retirement money that’s out there right now. A whole bunch of people saw their 401(k) go up a bunch this year and almost all of that money is in the stock market in some form or fashion. If those trillions were forced out of Wall St., that is the dislocation that would cause the revolt.

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        • Ad rem says:

          Overall, about 1/2 of the IRAs and 401s are in money markets and similar. People are still scared of a crash. So Obama could sweet talk that money — getting like 0.05% — into his R-Bond. Since it’s only paid at retirement, that’s free money. It’s a big scam…almost like Ponzi.

          I agree that if people are forced into selling stocks and handing the money over, the pitchforks will fly. Maybe that’s a good thing? Anyways, we’ll soon see what happens. I’d rather buy silver and gold than anybody’s bond, especially Obummers.

          http://www.gallup.com/poll/147206/stock-market-investments-lowest-1999.aspx

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  5. Remember the number one goal of Oblamo is to destroy the United States of America.

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  6. doodahdaze says:

    The best one I have heard about this is that it will be like handcuffing yourself to the railing of the Titanic….after it hit the iceberg.

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    • Stormy says:

      descriptive 😉

      Like

    • CarrieAnn says:

      That’s the best description I’ve heard too. You’d have to be some kind of stupid to trust in the “full faith and credit” of the US govt. after seeing what they’ve done with SS, the general rate they continue piling on debt, and, well, Obamacare comes to mind.

      This is another “idea” that’s about obtaining more control (and possibly damage control as more folks wise up to the reality of what the fed is doing). Unfortunately it will target and most harm those that can least afford it. I can’t see it being much of a success though, as the people most likely to fall for this are the least likely to have either the desire or actual money to save.

      Like

  7. kadar2012 says:

    The name of this ???
    ObamaC(itizens)R(etirement)A(ccount)P(rogram)

    Like

  8. Menagerie says:

    State of the Union Messages to the Congress are mandated by Article II, Section 3 of the United States Constitution: “He shall from time to time give to the Congress information of the state of the union, and recommend to their consideration such measures as he shall judge necessary and expedient.”

    He never honors the rest of the Constitution, so why do I have to miss my favorite tv show to listen to him tonight?

    Like

  9. I Am Trademark says:

    So basically, they want to create a SECOND teir Social Security ponzi scheme for them to borrow from in the years to come…

    Like

  10. JAS says:

    I just turned 59 and 1/2. I never put a cent on an IRA until now because now I pay no penalties for withdrawals. I set up a SEP-IRA where the business contributes 25% of my gross income into an FDIC insured money market checking account. I gave up a long time ago (black Monday 1987 when I lost my ass) on “investments”. I just need to defer taxes until I need the money.

    Like

  11. Partyzant says:

    This is effectively mandating evil, a rebirth of chattel slavery in the once proud “United States”. This is despicable to free men and women.

    Like

  12. ed357 says:

    Yeah right……

    The Federal Government is going to manage your IRA by putting it in a “lockbox” so that you’ll have it for retirement……..

    Where have I heard this “lockbox” $hit before????

    Like

    • west1890 says:

      They’ll “Corzinbe” your retirement money and you’ll never see a dime of it. Of course we trust the feds…………s/

      Like

  13. At the end of the day how can he possibly please everyone in the USA, there will always be one policy or another that is not acceptable to us, I dont think I would like his job

    Steve M

    Like

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