For those who pine for the days when the circus came to town, they need only have viewed the most recent “State of the Union” address. After seeing the crowd, some even compared the annual spectacle held in the House chamber to the bar scene from “Star Wars.” As eerie and provoking as the images conveyed by the beltway elites in attendance at this literal freak-show was the message uttered by Barack Obama.
The president made only a passing reference to his crown jewel, Obama care, a monstrosity that he once took every opportunity to praise incessantly. All he could muster this night was a sad exaggeration of the number of Americans signing up for its questionable benefits. He gave no accompanying assurances to elected Democrats who are running from it faster than scared rats off the sinking ship called a mid-term election.
Not surprisingly, Obama also babbled on about amnesty for illegals, raising the minimum wage and creating endless feel-good programs to increase government dependency. Doubtless, many of those who would benefit from his band-aid approach to combating our economic woes, long ago lost hope and confidence in their ability to achieve success, choosing the seeming comfort of Obama's bosom instead.
Showing his infinite disdain for the Constitution, the president promised to continue down a road that excludes the legislative branch by “acting on my own wherever and whenever” he can. Following in this vein, he then unveiled a simply sinister concept that has drawn surprisingly little attention, the “MyRA account.” MyRA involves the federal government taking over your retirement account and per the president, “guaranteeing a decent return with no risk of losing what you put in it.” With no time to waste on Congress and in keeping with his promise, Obama since followed up on his proposal by signing an executive order authorizing MyRA.
What a deal; the same president who gave us Obama care, $3 a gallon gas, a still-morose housing market, deficit spending as far as the eye can see, and a federal debt of $16 plus trillion and rising (up from $10 trillion under George Bush), now will invest your retirement savings to get you a rate of return that doesn't even remain steady with inflation!
What will Obama invest in? Treasury bonds, which will “guarantee” a very slight gain. Yet, as our economy grows worse and investments suffer, can even a small gain be guaranteed? If a loss in value occurs, where will the money come from to replenish these accounts? Not to fear, simply place your complete faith and trust in a president who conceals the truth of Benghazi, IRS harassment and “Fast-and-Furious” gun-running in Mexico, while formerly promising, “If you like your doctor, you can keep your doctor!”
This is MyRA, a program that aims to succeed at the expense of gullible citizens. A policy that once would only have been associated with a third-world leftist or European Socialist now garners the full support of an American president. Soon enough, patriotism will be synonymous with happily relinquishing all one's monetary holdings to a federal government that kicked financial responsibility to the curb long ago.
According to IRS figures, American IRA accounts contain over $5 trillion; enough to make Obama salivate! Government control of such a sum could pay for goodies and schemes that only a Washington politician could conceive, but what about when it's all gone? Who picks up the pieces for us when Washington's pot is dry?
While Obama and his minions tout this program as a way to “help Americans save for retirement,” MyRA opens a dangerous door to the threat of government confiscation not seen in the history of our republic, especially as more countries ie. China increasingly refuse to bankroll our nation's disastrous spending habits.
Throughout the course of history, the question has often been asked, “How much money do you think you'll need to live in retirement?” The answer: a lot more if Barack Obama has his way.