Thursday, May 13, 2010

New source of funds for the Obama union bailout plan: Your 401k



Don't you know it's just to protect you?

Connie Hair:

"In February, the White House released its 'Annual Report on the Middle Class' containing new regulations favored by Big Labor including a bailout of critically underfunded union pension plans through 'retirement security' options.

The radical solution most favored by Big Labor is the seizure of private 401(k) plans for government disbursement — which lets them off the hook for their collapsing retirement scheme. And, of course, the Obama administration is eager to accommodate their buddies.

….the backdoor bulls-eye is on your 401(k) plan and the trillions of dollars the government would control through seizure, regulation and federal disbursement of mandatory retirement accounts.

Boehner and the group are sounding the alarm, warning bureaucrats to keep their hands off of America’s private retirement plans."

No, there's nothing to see here. Let's just move along.....

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