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Little OT this goes with your Romney post from earlier

ranch hand

Well-known member
"Now, I'm hoping that Congress goes along with this, but I'm not going to wait for Congress. I could do more with Congress, but I'm not going to not do anything without Congress, not when it's about the basic security and dignity of American workers."

Huh? What? This statement seems twice as confusing as "double-talk," since it uses not two, but four, negatives.

The president then proceeded to explain how he plans to (somehow) employ this Congressional strategy to create a new, government-backed (and run?) retirement savings product that will "never go down in value":

"So here's what I'm going to do today. This is what this little table is set up for. I'm going to sign a presidential memorandum that directs the U.S. Treasury Secretary, Jack Lew, to create a new way for working Americans to start their own retirement savings. (Applause.) And as soon as I sign this, Jack Lew will get the memo. He is right here. So I'm going to be able to just -- here, here's your memo.

"And we're calling it "MyRA." Not IRA -- MyRA. And what it is, it's a new type of savings bond that we can set up without legislation that encourages Americans to begin to build a nest egg. And it's simple. Workers can contribute through automatic deductions in their paychecks, just like those of you who have an employer-sponsored pension fund can do. They can keep the same account even if they change jobs, so they can carry it over. It's safe. These account balances will never go down in value. They're backed by the full faith and credit of the United States government. And it's affordable. So you can open an account with as little as $25. You can contribute as little as $5 at a time."
 

Steve

Well-known member
to create a new, government-backed (and run?) retirement savings product that will "never go down in value":

he is right..

here is how it will end up working..

you give them your meager savings.. they invest it in government bonds..

they take the money from the government bonds to pay for stuff..

and then someday,.. just like SS they pay it back with interest.



so how much money is in the SS "trust" fund.. nothing.. they spent it..

how much money will be in the MyIRA.. nothing,.. .they are going to spend it..

but the quote was about worth..

so how much is nothing worth.. nothing. .

and can nothing lose value... nope..

so big O is right..

"never go down in value"

"They're backed by the full faith and credit of the United States government."
 

Steve

Well-known member
How is this different from the Bush SS plan

Who could open an investment account? The accounts are voluntary. But participation would be phased in over three years according to age

How would individual accounts work? The accounts would be modeled on the Thrift Savings Plan -- a 401-k type program that is already available to government employees -- and centrally administered by the government.

Workers would have a choice of five broadly diversified index funds and a lifecycle fund, in which the portfolio grows more conservative as the investor nears retirement.

"We will make sure there are good options to protect your investments from sudden market swings on the eve of your retirement," the president said in his speech. Specifically, when a worker turns 47 the account will automatically be invested in the lifecycle fund unless the worker and his or her spouse sign a waiver opting out.
and we remember how that played out...

I think it is a great idea.. the rich need more folk to rob now that few are working and Donating" to their retirement funds..
 

Tam

Well-known member
Problem with Obama's little plan is some say if the Treasury Department is going to be paying for the administration of these myra's then the Congress that Obama figures he can just go around to develop them has to give their OK for the spending of tax payers money. If this is the case, I hope the Congress has enough guts to stomp down on his continued over reach. :roll:
 

littlejoe

Well-known member
Far too much Federal government, far too much federal trampling of states rights, way too much land in fed hands, way too much power in president's hands and way to much say from him on issues that should be decided by the people---or at least the peoples 'representatives'

And people's 'representatives' hanging around WAY too long---if they ain't on the take when they get there, seems like they are toot sweet---my grandma used to say, 'if you don't want a stray cat hanging around, don't feed it'
 

Steve

Well-known member
Problem with Obama's little plan is some say if the Treasury Department is going to be paying for the administration of these myra's

if structured like the current federal plan.. the "customer" pays a small fee (3% I think) to administer it..

over all I am not against this.. it isn't much different then the Bush plan..
other then the lack of liberal outrage..

these types of plans need to be available.. I would prefer each state having a plan.. and the plan restricted to government bond, securities , and not used to prop up the stock market.

on this one the GOP should get behind the idea.. and get a decent safe savings plan out ASAP for the working class ..
 

Steve

Well-known member
littlejoe said:
Far too much Federal government, far too much federal trampling of states rights, way too much land in fed hands, way too much power in president's hands and way to much say from him on issues that should be decided by the people---or at least the peoples 'representatives'

And people's 'representatives' hanging around WAY too long---if they ain't on the take when they get there, seems like they are toot sweet---my grandma used to say, 'if you don't want a stray cat hanging around, don't feed it'

It is good to see the head injury you had from that nasty fall is clearing up..
 
A

Anonymous

Guest
littlejoe said:
Far too much Federal government, far too much federal trampling of states rights, way too much land in fed hands, way too much power in president's hands and way to much say from him on issues that should be decided by the people---or at least the peoples 'representatives'

And people's 'representatives' hanging around WAY too long---if they ain't on the take when they get there, seems like they are toot sweet---my grandma used to say, 'if you don't want a stray cat hanging around, don't feed it'

About all the exact things I complained about for the last several years...But when I complained about GW- and his use of signing statements and executive actions to go around Congress I was declared a pariah.. Especially when I brought up the fact that if unchallenged by Congress- every executive order taken by GW will set precedent- and go in a tool kit that will be used by every President from that time on...And as I warned folks-- that President could easily be a Democrat (which came to be)... :wink:
 

ranch hand

Well-known member
Oldtimer said:
littlejoe said:
Far too much Federal government, far too much federal trampling of states rights, way too much land in fed hands, way too much power in president's hands and way to much say from him on issues that should be decided by the people---or at least the peoples 'representatives'

And people's 'representatives' hanging around WAY too long---if they ain't on the take when they get there, seems like they are toot sweet---my grandma used to say, 'if you don't want a stray cat hanging around, don't feed it'

About all the exact things I complained about for the last several years...But when I complained about GW- and his use of signing statements and executive actions to go around Congress I was declared a pariah.. Especially when I brought up the fact that if unchallenged by Congress- every executive order taken by GW will set precedent- and go in a tool kit that will be used by every President from that time on...And as I warned folks-- that President could easily be a Democrat (which came to be)... :wink:

OT you warned us with told you so, Palin is not liked by the women, President Bush bust, on and on.....you must have a big head on your shoulder. Why didn't you warn us about Obama? :mad: :mad: :mad:
 

littlejoe

Well-known member
Steve said:
littlejoe said:
Far too much Federal government, far too much federal trampling of states rights, way too much land in fed hands, way too much power in president's hands and way to much say from him on issues that should be decided by the people---or at least the peoples 'representatives'

And people's 'representatives' hanging around WAY too long---if they ain't on the take when they get there, seems like they are toot sweet---my grandma used to say, 'if you don't want a stray cat hanging around, don't feed it'

It is good to see the head injury you had from that nasty fall is clearing up..

A lot of folks think that because I make fun of republicans that I'm a democrat or Obama lover. Many of them's main talent is calling names, referring to 'my hero' , bathroom humour, pedophile accusations and--interestingly enuf---love sick ladies. Whatever.
 

Tam

Well-known member
Oldtimer said:
littlejoe said:
Far too much Federal government, far too much federal trampling of states rights, way too much land in fed hands, way too much power in president's hands and way to much say from him on issues that should be decided by the people---or at least the peoples 'representatives'

And people's 'representatives' hanging around WAY too long---if they ain't on the take when they get there, seems like they are toot sweet---my grandma used to say, 'if you don't want a stray cat hanging around, don't feed it'

About all the exact things I complained about for the last several years...But when I complained about GW- and his use of signing statements and executive actions to go around Congress I was declared a pariah.. Especially when I brought up the fact that if unchallenged by Congress- every executive order taken by GW will set precedent- and go in a tool kit that will be used by every President from that time on...And as I warned folks-- that President could easily be a Democrat (which came to be)... :wink:

Geez and here I thought you told us the Congress was back slapping Bush and rubber stamping everything he wanted and now you're telling us Bush was going around Congress to get what he wanted :? Which is it Oldtimer? BTW if Bush going around Congress was horrible then why isn't it when Obama is doing it? :? Or is this a case of THEY ALL DO IT SO WHAT DOES IT MATTER NOW. :roll:
 

loomixguy

Well-known member
Oldtimer said:
littlejoe said:
Far too much Federal government, far too much federal trampling of states rights, way too much land in fed hands, way too much power in president's hands and way to much say from him on issues that should be decided by the people---or at least the peoples 'representatives'

And people's 'representatives' hanging around WAY too long---if they ain't on the take when they get there, seems like they are toot sweet---my grandma used to say, 'if you don't want a stray cat hanging around, don't feed it'

About all the exact things I complained about for the last several years...But when I complained about GW- and his use of signing statements and executive actions to go around Congress I was declared a pariah.. Especially when I brought up the fact that if unchallenged by Congress- every executive order taken by GW will set precedent- and go in a tool kit that will be used by every President from that time on...And as I warned folks-- that President could easily be a Democrat (which came to be)... :wink:

No thanks to you.
Care to expound on the 5+ year coffee break AG Holder has been on?
The IRS targeting of tea party/conservative groups?
Your Dear Leader's reluctance to get the XL going for fear of alienating his lib/greenie/ pals?
Fast & Furious?
Benghazi?
Immigration/citizenship?
Or any other of this administration's utter failures?
 

hypocritexposer

Well-known member
littlejoe said:
A lot of folks think that because I make fun of republicans that I'm a democrat or Obama lover. Many of them's main talent is calling names, referring to 'my hero' , bathroom humour, pedophile accusations and--interestingly enuf---love sick ladies. Whatever.

No one was accused of pedophilia, but it was brought up that you post about politicians being hypocrites because of their relationship with gay boys, but forget to mention the pedophilia aspect.

Seems you don't have a problem with it, unless the politician has voted against what you perceive as "gay rights"
 
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