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Friday, November 16, 2012

Obama Pension Care - Obama Begins Push for New National Retirement System.

Obama Pension Care - Obama Begins Push for New National Retirement System.(NSC).A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning. The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured a line up of left-wing activists including one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities that would take the place of 401k plans.
"This hearing was set up to explore why Americans are not saving as much for their retirement as they could," explains National Seniors Council National Director Robert Crone, "However, it is clear that this is the first step towards a government takeover. It feels just like the beginning of the debate over health care and we all know how that ended up."
A representative of the liberal Pension Rights Center, Rebecca Davis, testified that the government needs to get involved because 401k plans and IRAs are unfair to poor people. She demanded the Obama administration set up a "government-sponsored program administered by the PBGC (the governments’ Pension Benefit Guarantee Corporation)." She proclaimed that even "private annuities are problematic."
Such "reforms" would effectively end private retirement accounts in America, Crone warns. "These people want the government to require that ultimately all Americans buy these government annuities instead of saving or investing on their own. The Government could then take these trillions of dollars and redistribute it through this new national retirement system."
Deputy Treasury Secretary J. Mark Iwry, who presided over the hearing, is a long-time critic of 401k plans because he believes they benefit the rich. He also appears to be one of the Administration’s point man on this issue.
"This whole issue is moving forward very quickly," warns Crone. "Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts."
NSC has taken the lead in warning the nation about this new government onslaught and is plotting ways to stop it.
"This effort ultimately is designed to grab the retirement nest eggs of America’s senior citizens. This new government annuity scheme, even if it is at first optional, will turn into a giant effort to redistribute the wealth of America’s older citizens," explains Crone. "This scheme mirrors what I expect the President will try to do with Social Security. He wants to turn that program into a welfare program, too."
NSC will likely unveil a new grassroots campaign effort later this year or early in January to coincide with the seating of the new Congress.Read the full story here.


  1. Replies
    1. Thanks AOW, if memory serves me right there was a previous 'attempt' at this during his first term.This time they might actually succeed at their 'overhaul' of the pension system'.

  2. This is so outlandish I'm surprised even the wingnuts here would believe it. Well, judging by some of the looney responses, maybe not. Anything to keep your ire festering, I guess. Even if it is bullshit. Funny how you weren't apoplectic when Bush tried to Privatize Social Security. After the crash he created, we'd all be in the poor house!


  3. Foreign Aid , Fiscal Cliff , Food Safety and Bio Algae to bring President Obama and Congress to the table over a long Term Capital Formation Strategy that works to bring Peace, safety and Prosperity to the USA and World is at hand !!

    There is a case to be Made right NOW about the future of Fracking and Food Safety , so the need to Wean the World Off Oil over a Long term is the solution to Quell this Dependency that our Founders in General Terms when writing the Constitution Warned we the people to NEVER become To DEPDENDENT on any ONE Thing and that Means Government and anything else like a Single Energy Source !!

    There is a case to be Made right NOW about the future of Fracking and Food Safety , and the development of Bio Algae as a alternative to this Food safety Issue !!

    If you want to redistribute Foreign Aid that goes to Oil Rich Nations which is causing WAR , conflicts and Unsustainable Monetary Policy , then the demand on Oil needs to be Competed for , and Bio Algae is the Abundance that can do this and we need to Force the debate !!

    The power in this Fiscal Cliff Negotiation is in How you want to use Foreign Aid and how this will RESINATE in the Minds of the American People and How you can all come to the Table over how these Foreign Aid packages can either Be a Higher Tax on Businesses that also contribute to these Foreign Aid Packages either with Direct Business Relationships or Having to Go Through The Bureaucracy.
    This is where you can Bring to the American People this case of Do we want to trust Bureaucrats to redistribute this Foreign Aid or do we Restructure the Tax code so that Businesses can Use these dollars to Build within their States using this Capital a Competitive Business that Includes Direct Business relations ships in Foreign Countries and these Relationships then Create a Incentive for Foreign Investors to want to Form capital around the Businesses in the US states that want to access markets here in the USA and Abroad , or Trust the Bureaucracy with this cash that we see so far is Only Being sent to Radical Regimes that are Power grabbing Democratically elected Governments Like Egypt ??


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