Behind the scenes, groundwork has been laid for a federal government confiscation of your tax-deferred retirement accounts such as IRAs. They’ve been quietly working it through backroom committees since 2007. You see, Uncle Sam has a spending habit….and he’s got it bad. Now, he sees Americans with $19.4 trillion in retirement savings, and he’s generously offering to help them manage it. What could possibly go wrong?
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.
Following dramatic failures of the last two singles, “Share The Wealth” and “Income Inequality”, President Lip-Sync announces the catchy new single which has been typed into the teleprompter:
“Ladders of Opportunity”
Whether anyone buys it is yet to be determined – however, the media critics who have heard early snippets say: ‘it’s general sound is a remix heavy on the drum-beat’.
WASHINGTON (AP) — Income inequality is out, “ladders of opportunity” is in.
Eager to dispel claims that President Barack Obama is engaging in “class warfare” as he heads into his State of the Union address next week, the White House is de-emphasizing phrases focusing on economic disparity and turning instead to messages about creating paths of opportunity for the poor and middle class. (more…)
President Obama has been in office since January of 2009. It’s now January of 2014 and Dear Leader’s cohorts are still blaming George Bush….
Honest question: In the immediate months after 9/11/2001 the U.S. economy contracted and tanked steeper and faster than any single 3-6 month period in the history of economic measures. George Bush responded IMEDIATELY and forcefully with tax credits, tax refunds (checks mailed within 30 days) and a nationally delivered speech, the infamous “buy stuff” speech. It worked. If the same thing happened during this administration do you think they would be able to handle ?
I strongly doubt it….. they don’t have solutions – their expertise is limited to talking about problems, they have ZERO solutions.
(Via WFB) – White House adviser Dan Pfeiffer returned to a familiar Democratic talking point on Fox News Sunday, blaming the financial crisis “this president inherited” for the laundry list of Obama economic woes pointed out by host Chris Wallace.
After showing a graphic revealing median household income had decreased, poverty rate was up and the labor force participation rate was at a 36-year low during the Obama presidency, Pfeiffer implicitly blamed the Bush administration. (more…)
Democrats are hemorhaging over Obamacare and the destruction of the US health care system. One-sixth of the economy is affected and millions of Americans were repeatedly lied to by Democrats in order to get the law passed. So what do Republican leaders plan to do this year? Pass amnesty.
On its face it does seem ridiculous. However, there really is a good reason for The Republican Party to approach it. Notice it’s the “Republican Party Leadership” doing this push -meaning, John Boehner and Mitch McConnell- not the rank and file.
“There is definitely a growing mood of confusion and aggravation among conservatives in the House over the immigration issue right now,” one House GOP aide said in an email to Breitbart News, adding that many on the right find the “political logic” of riling up the party’s base so close to a low-turnout midterm election baffling. “Do we really want to just give up the midterms like this?” the aide asked. (via Breitbart link)
NEW JERSEY – According to a new study by Dr. Sarah Arnett of the Government Accountability Office that measures the fiscal health of the fifty states in four categories, New Jersey ranks dead last in both annual budget and long-term solvency. The state’s poor performance in all four categories earned it the worst ranking of all fifty states in overall fiscal health.
Arnett’s report examines the health of each state according to four solvency categories: cash solvency, budget solvency, long-run solvency, and service-level solvency. (See definitions below.) (more…)
Suckers! The reparations wealth transfer from the hard working white middle class to the well connected race hustling class continues. We don’ have to prove nothin’ ….Whatcha gonna do about it .. just Holder saying it’s so MAKES it so … Hope! Change!
$1B coerced from “racist” lenders ….. and we’ve “Only Just Begun” …..
From Investor’s Business Daily:
“…..So “victims” were never actually identified. That’s why the complaint has to estimate that Ally discriminated against “approximately” 100,000 African-American borrowers.
More shocking, civil-rights prosecutors never actually checked the creditworthiness of those borrowers. That’s right, they never looked at credit scores, down payments, debt or other key risk-related factors banks consider to set interest rates. Not for blacks, or for supposedly “similarly situated” whites.
So how in the world can Justice claim “Ally’s specific policy and practice are not justified by a legitimate business need?”
It really can’t. That’s why it relies on statistics to “prove” such policies had a “disparate impact” on minorities, while arbitrarily finding those disparities so “significant” they can’t be explained by chance.
Arbitrary, because neither Justice nor CFPB will reveal its threshold for “significant,” despite repeated bipartisan requests from Congress.
The Credit Rating service Fitch notes that it may be more than just a desire to extort from the banks which lend in the auto market:
Fitch also notes that CFPB does not have jurisdiction over auto dealers and their practices. Actions taken against lenders could be an indirect way to regulate dealers.
A look through the CFPB “Advisory Groups” listings will show a “who’s-who” of Progressives with tentacles to well known fraud front groups, such as ACORN.
The official news release for the latest shakedown , er, “settlement” states it will consist of several parts: (more…)
In a bad omen for Democrats hopes in the mid-term elections, Barack Obama’s favorability rating has slide so far that he’s now nine points under the rating for our favorite crack-smoking Canadian mayor.
In the most recent polling, Rob Ford gets 47% of Toronto’s denizen’s approval, while Obama gets a dismal 38% from Americans. (link)
It’s one thing to hear pundits say you are racist for expecting quality performance from a black president, it’s quite another thing for the President to say it….
(Via Bloomberg) President Barack Obama said that racial tensions may have softened his popularity among white voters within the last two years, according to a story posted on the New Yorkermagazine’s website today.
“There’s no doubt that there’s some folks who just really dislike me because they don’t like the idea of a black president,” Obama said in the article by David Remnick, appearing in the magazine’s Jan. 27 edition.
“Now, the flip side of it is there are some black folks and maybe some white folks who really like me and give me the benefit of the doubt precisely because I’m a black president,” Obama said in his most direct comments on how race has affected his political standing since he’s been in office. (more…)
New York is so far beyond screwed the light coming from where screwed people live won’t reach New Yorkers for 4 years…..
NEW YORK – Mayor de Blasio’s wife, Chirlane McCray, wants her own office inside City Hall — and to play a hands-on, policy-setting role in her husband’s administration, sources told The Post.
Officials have been scouting space for New York City’s new first lady, who described herself as a “sounding board and partner” to her husband during his campaign and transition to mayor, a source said.
And the administration has been working on a portfolio of issues for McCray to tackle, another source said.
McCray would also like a staff — and her top pick to head it up is Rachel Noerdlinger, a longtime spokeswoman and confidant for the Rev. Al Sharpton, NY1 reported Friday. (read more)
