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ust after speaking at the U.S. Steel plant outside Pittsburgh, the president signed an order establishing the so-called “MyRa” savings plans, which will allow workers to deposit money into a secure interest-earning account that is backed by “the full faith and credit of the United States government.” Read more: www.washingtontimes.com... Follow us: @washtimes on Twitter
It seems a bit strange that all the details and variables have not been discussed or even outlined.
Very suspicious indeed.
I wonder if anybody actually read this?
We need to try it first.
reply to post by xuenchen
Anyone that puts their retirement money in government bonds through this program is going to lose all or most of it eventually. That is what happens when you loan your money to an entity 17 trillion in debt and growing, with no plans to ever run a surplus.
“the full faith and credit of the United States government.”
I've seen the credit report on the United States government.
Mine is better. Jimmy Carter and his bunch taught me some valuable lessons, lessons I wish the legislators of today had absorbed.
I've always done my savings plans without the help of gubbermint! How much "help" does one need to save money in a routine fashion? And why, in the name of Paperwork Mountain, must employers be involved?
Please pass the duct tape...
All this is, is an attempt to find a buyer for government bonds now that they are tapering the amount the fed is printing up each month to buy bonds. Basically the government needs suckers, cause the real financial markets don't want any more of our debt at 3 percent.
reply to post by Flatfish
Well at least you got one thing right.
If 0bama is involved, it is in fact shady.