Senate Bill Would Limit You From Using Your 401(k)s Money How You See Fit

Ain't that nice?

Senate Bill Would Limit Savers Using 401(k)s as Rainy-Day Funds

Workers will be limited in tapping their 401(k) retirement plans for loans under legislation two senators introduced today that’s designed to counter the erosion of retirement assets.

“Because of the difficult economic times, more and more Americans are treating their retirement accounts as rainy day funds,” Senator Herb Kohl, a Wisconsin Democrat, said in a statement today. “A 401(k) savings account should not be used as a piggy bank.”

It shouldn't be used as a piggy bank, it should be used to fund the government of course!!

Treasury Prepares To Plunder Another $45 Billion From Retirement Funds As It Issues $110 Billion More Debt Next Week

Now that it has finally been made clear that in order to accommodate the debt ceiling by adding marketable debt, the Treasury has no choice but to literally plunder retirement accounts, we now know that in order to fit in the just announced $110 billion in new bond issuance over the next week, Tim Geithner will have to reduce US retirement funding (the bulk of which, the Social Security Trust Fund already lost $1.1 trillion in the past year) by at least $45 billion.

I mean, the government knows best what you can do with your money!

It really never ceases to amaze me. This government really does think they own everything and can do whatever they want. That is why there is no savings, no 401k, no bonds, stocks or any other imaginary money in my world. Its all just a tool to control people.