President Obama released his 2015 budget proposal this week… and as expected, it contained even more language about his MyRA initiative.
As we’ve discussed so many times in the past, IRAs are an irresistible kitty for such a bankrupt government.
The US government itself estimates that over $5 trillion is tucked away in American retirement accounts.
They need that money. Your money.
Think about it– the Chinese are starting to dump their US Treasuries in record numbers. The Social Security trust fund is also on track to start dumping Treasuries in order to pay out record numbers of retirees.
The US government is struggling to come up with new funding sources… and retirement accounts are by far the easiest target.
Why? Because the majority of retirement accounts at trapped at big Wall Street banks, which are all de facto agents of the government. All the Treasury Department has to do is make a phone call.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
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