Obama Aims to Make Retirement Saving Simpler

Another Saturday… another BO infomercial being spun by ABC…… ABC you really don’t need to spin BO’s propaganda… just provide the link…..

Just remember that Bush hid this recession for a least his last 12 months in office. You cannot turn it back around in 7 months, he made changes in the system for 8 years that caused this.

They really need to address 401K loans and job loss. The loans payments should be defer-able until that person returns to work and adjusted based on the new income. Job loss is completely beyond the control of the employee.

He treats Americans like they are idiots. He says he wants to make savings easier by having Americans put their refunds into direct deposit. This is nothing new. People don’t change, they only walk around as if they want to follow a leader who will do all the work for them, they have no clue what they need, so they swallow every word this President says as gold. Sad, really, and what Obama is banking on. DOn’t you think he studied this before he ran for office? Knowing full well the level and amount of fools who are sheep. COntrol your own life, and walk proud like an Ameican and stop being a sucker for this Administration

He’s so smartttttt no wonder he is the Presidenty

The last place I would invest my tax return is in a savings bond. With a bond’s inverse relationshp to interest rates and what some are calling the real possibility of the govt. not honoring or defaulting on bonds, your savings bonds are likely to have a negative return or no return at all.

Simplifying government red tape! Again!
What an outrage! Up in arms! How dare he simplify government red tape!
The right wing out again to attack anything the President does. He can’t even take his children for an ice cream without the screaming, whining right wing attacking.
Simplify government red tape? What an outrage!
“Wolf! Wolf!” America is getting tired of the shrill, one-note, brainwashed din of the right wing.
You’re driving people away in droves.

Savings….. hahahahaha BO’s massive tax increases to fund his socialist heath system care is going to eat up most of our disposal income..

BO is just trying to simply getting HIS hands on OUR money to fund HIS Socialist Programs….

“Have they thought about TAX CUTS?”
Helloooooo! Been there, done that. Didn’t work out so well. Tax cuts did not work to boost the economy under Reagan, and they didn’t work under W either. Family income grew more slowly under Reagan and Bush than they did under any other President since the Depression.
Fool me once, shame on you …

–Fool me once, shame on you …–
Let me know how much extra you send in each year to the Feds…You could always send it to me as well.

Once again, abc “news” acts as mindless mouthpiece note takers for clueless, lying president floundering with policies that range from damaging to useless to socialist. Pathetic. There are reasons why charismatic neophytes who’ve accomplished nothing should not be elected president and we are witnessing them first hand.

Wow, you people are so blinded by your dislike of Obama, that you can’t even acknowledge any thing he does. This move makes sense and relatively easy to implement. Without raising taxes, or fees. It might be a little but it is more then the Old crew who was in office. Our current congress can’t agree on the color of the sky, so he expanded something that does not impact anyone’s pay check unless you increase your contributions to your 401K or opt in for a saving bond that over it’s life will earn more then buying an HD TV if you decided to use the tax return for buying stuff. He added options for you for increased savings. We can not go back to the 0 savings rate we have had of the last few years.

Another, “They let you choose what it is , they want you to do” and “we are from the government, we are here to help” program. Remember what happened to 401Ks after obama was selected? Mentioning the IRS won’t help this sell either. Everything this administration does allows for the employment of Fundamental Military Applications: Control of Supply, Control of Movement, and Control of Communications.

How about getting rid of the income tax since so much of it is wasted anyway. I could use that extra 30%.

This President is so full of lies,dumb ideas. Taxes are going up,food is high,interest going up,ect ect Yet this jerk wants us to SAVE get over it.Lets get him out there and get a mature intelligent person in there rep or Dem who knows what they are doing,and a plan.He is such a WASTE .

Just to be clear, this administration is accelerating what has been a deterioration of our country which began in the late 1800′s. Anyone who thinks that our troubles began just 8 years ago is listening to propaganda and not researching for themselves.

BO would LOVE to get his hands on our retirement and savings account numbers…. then he could take OUR money anytime time he wants…

Simplification=deciding what’s best for you.
Automatic enrollment.
Giving the money back to the government in “savings bonds.” At least there’s going to be a check-off box indicating “yes” — for now. He’ll call it a great success and make it “automatic.”
Enough of my money goes out to “my future” (Medicare, medicaid, SS), and to other people’s futures and present. People who aren’t currently contributing a thing, haven’t ever, their parents haven’t ever, and their kids won’t.
Call me selfish.

“The President didn’t seem to lose any sleep over wiping out the Indiana pensioners retirement”
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Oh sure, and how exactly did THIS President do that?

Sorry am not into the feel good savings story as yet am still wondering about how the hell did Van Jones make it into the WH administration and why is he still there?

If the Prez is going to talk about people’s “savings”. He might want to start in his home state of Illinois and the corrupt disaster called, Child Support.

“So BO wants to have free access to our health records, retirement accounts, savings accounts….. hummmmmm…”
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Lie. By the way, the most intrusive government measures prying into personal business were put into place by the previous administration – in spades.

Your paranoid imaginings are just that.
Posted by: sylvia | Sep 5, 2009 11:38:12 AM
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Yes, yes, we all know, Obama means no harm and just wants to protect us. He loves us and wants what’s best for us. We’re all being just silly for doubting the word and plan for us.
Things like this tend to get “expanded upon,” as things will in the Master Health Insurance Reform.

“We’re all being just silly for doubting the word and plan for us.”
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No, you’re silly for not understanding the most intrusive government measures prying into personal business were put into place by the previous administration.
That actually happened – and instead of working on that, you’re pretending things that will happen in the future and blaming Obama even though they haven’t happened.

As I set here in the middle, I see the left trying to get the ball rolling on our problems in the USA and the right is obviously not wanting anything to work so they can get back in power. All I can say is, our gov. better get back on-track!! Because we(the USA)are being watched!!! Lets get the side-blinders off, quit finger-pointing and get our guard back-up. Lets be Americans again!! We in the middle will be watching!!

No, you’re silly for not understanding the most intrusive government measures prying into personal business were put into place by the previous administration.
Posted by: sylvia |
Luckily that stuff has all been rolled back now.

BO forgets…. or Socialist Government already mandates retirement accounts…. Social Security is a “Retirement” Account…. not a good one… but is what it is…

“I still see the blinders are on!!”
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Yeah, I think somebody must have super-glued them to their faces while they were sleeping.
Poor Things, the blinders will probably have to be surgically removed…
Hmmm, will ObamaScare cover that??? Lol.

Real total return of S&P 500 vs. inflation, 2000-2008: -6.3%
A 401(k) is simply another method of alienating workers from their money.
We are asked to send our money into Wall Street, which then rewards companies that screw workers the worst.
Great system there.

A 401(k) is simply another method of alienating workers from their money.
Posted by: Flash Override |
Ok. Where does income tax fit in?

Hmm, I must be right!!

I still see the blinders are still on. I have FREE super glue remover.

The right wing will attack anything Obama does. They will say it’s all evil. Who cares?
Extremists mostly spout nonsense.

The President wants us to save our tax refund. I believe it will not work because the majority of the American public are struggling making monthly payments such as housing (is so expensive to rent or pay a mortgage); student loans (some individuals owe in addition to college education advanced education); car insurance; medical bills; not to mention food. Mr. President, I will not save my tax refund. I just cannot do that. I have so many bills. I think, Mr. President, your proposal is for individuals who make a decent living (earn a lot of money).
I don’t want you to think that I am one of those individuals who oppose everything you say. No. In fact, I support you 100% in terms of health insurance reform and I support the public option. But regarding your recent proposal (save our tax refund), I think most Americans will not be able to save their income tax refunds. As I just explained, the reality is different. We cannot save because we have too many bills to pay each month.

In the article it states “Yet, he noted, the two years worth of recession have “not only led to loss of jobs, but also the loss of savings.””
Mr. Obama is one tricky politician. If the economic remains the same or worsens two years after Mr. Obama is in office, he will change the speech to Three years worth of recession. He is for closing Gautanomo prison, but when the British released the Libya terrorist, he decries. It’s all about BS.

Surprised the word “collective” hasn’t been focus grouped out yet.

“the plan calls for expanding opportunities for automatic enrollment in 401(k) and other retirement savings plans.”
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This is somehow bad? What exactly is it that right wingers are attacking here?

OK now we’ll forget about the racist, communist, 9/11 truther that Obama appointed.
We’ll forget about the $30 billion of our tax dollars he gave to a guy that supports cop killers.
Nice try Obama.
But it’s kind of hard to look past all the lies and deception.

Then, he can get the government to use our income tax to help the oligarchy in Honduras pull a coup.
Then, they can pay workers in Honduras next to nothing.
Then our boss can move our factory to Honduras!
Posted by: Flash Override |
Aha. And that is why President Obama has organized a coalition with Hugo and Fidel to reverse that coup, restore Zelaya to power and save American jobs.

The idea of the 401(k) is to invest in it throughout your lifetime of employment. In no 40-year period in our history has that not been an extemely sound investment strategy. Focusing on any particular 10- or even 20-year period is myopic.
Anyone who fails to take advantage of the 401(k) program has only himself to blame. And no one has to invest in Wall Street securities if he doesn’t want to. But for over 200 years it’s been the best long-term investment available to a mass population ever devised by mankind.
I applaud Mr. Obama for this one.

He wants to tax interest on savings and dividends on investments but claims to want to make saving “easier”?
Oh, I get it, he wants to make it easier for Americans to pay more taxes! Silly me.

The jobs numbers are showing that the economy is turning around?! Was this guy on Martha’s Vineyard or in Cloud Cuckoo Land?

Why doesn’t the government focus on defense and it’s proper role and stay out of my retirement and vacation options?
Don’t they have better things to do than to install a socialist regime?

It all seems kind of disjointed. We’re clearly not out of the recession yet – not even close. The ONLY ones that say that we are are Obama and Biden. Obama is now coming up with ways to make it easier for people to save?
Save what? People need to get jobs first. Those that have jobs need to be able to pay their bills.
One thing people don’t talk about – is that when Obama lets the Bush tax cuts expire at the end of 2010 – lots of low and middle income earners will be affected. There are lots of tax cuts in that bill that benefit people earning $60K or less.
These cuts will go with the whole thing. He’d have to reinstate them by a bill through Congress. That would be easier said than done. So essentially (by letting things lapse) he is going to raise taxes on the lower and lower middle classes – but also give them more ways to save? Save what?

“His dependency on a teleprompter and his Biden-esque gaffes without one have long sucked the sails out of that pap”
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Again OH your prejudice is showing.
Either that or you’re so busy listening to the childish tantrums of your right wing media ranters that you haven’t actually watched Obama answering questions, or in interviews.
I’ve seen him interviewed many times, and I’ve seen him answering questions many times (all of these without a teleprompter).
The man is well-prepared, detailed and articulate in his answers – unlike Bush who often had problems putting together coherent sentences, and stumbled and bumbled many time.
Obama graduated with honors from Harvard – unlike our former President who didn’t distinguish himself in any way.
Obama does make gaffes – I’ve seen them, but on the whole he’s a very intelligent and articulate President.

Want to make a retirement savings incentive? Don’t tax the interest.

“b-b-b-b-b-b-b-b-but Bush!”
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OH, so you still can’t face up to the fact Bush doubled the national debt and left the economy in freefall when he departed .. .
Go ahead, say it again if it helps you . .. “b-b-b-b-b-b-b-b-but Bush!

You’ll all remember the national debt basically doubled under the Bush administration
Posted by: sylvia |
And that was stupid. Obama’s rosiest scenario projects doubling it again. That is what we call doubling down on stupid.

Foghorn. . .
You seem to have missed the fact the Bush administration not only doubled the national debt – the economy was left in an economic meltdown by the time he had left office.
His administration had already dedicated $700 BILLION in TARP funds as bail-out money for banks, financial institutions and (as Bush ruled to include) auto companies.
All of this money comes under the fiscal calculations for this fiscal year (ie. Obama’s) and we are nowhere near out of the financial crisis. Things have leveled off a bit – but this country was left in a MESS.
Oh, okay . . . continue to sidestep those facts if it makes you feel better.

Republicans sure missed on their promise of ‘smaller government’.
Posted by: sylvia |
They sure did.

You seem to have missed the fact
……
Oh, okay . . . continue to sidestep those facts if it makes you feel better.
Posted by: julieterra |
I’m sorry I sidestepped what I forgot. I know you have told me it’s all bush’s fault before but I keep forgetting. Thanks for reminding me. Stay vigilant.

Who’s fault is that?
Posted by: Concerned in OH |
Oh! Oh! Oh! I got it!
Bush’s!
julie, how’d I do?

“Who’s fault is that?”
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I don’t know . . .uhm . . whose fault is the worldwide economic meltdown that caused every western industrialized country to go into large deficit funding because of lack of incoming income tax, people losing their jobs, banks crashing, companies crashing, major industries about to collapse, world trade shaken, etc?
You going to blame all that on Obama?

Sylvia reminds us that, “Republicans sure missed on their promise of ‘smaller government’.” Guess you’ve got a point, Sylvia– Obama has never constrained himself by making such a promise. Now we’re told that bigger government is good for the economy. I remain unconvinced but there it is.

“Worldwide economic collapse could only be caused by the actions of one solitary man. George W. Bush”
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I don’t think you can blame it all on Bush or his administration. That’s not fair. But he was in power at the time, not Obama.
Bush left the United States with a double national debt and he did leave with the economy in virtual meltdown.
Hopefully when Obama is done, he may have again doubled the national debt, but the economy might not be in total disintegration. We’ll see.
I personally think heading for a greener future is the obvious and only way to go – only dinosaurs could fail to see this and you know what happened to the last set of dinosaurs.
On that level, Obama has definitely set the tone and the direction and has passed legislation to put momentum behind a swing in that direction.

so.. whats the latest with the investigation into van jones’s association into communism, racism and the like? oh, and hows about the search for that BO birth certificate??

julieterra- enough diversion/distraction from current events. what is BO doin to fix ANYTHING. lets face it, if you or i was president, wouldnt our first priority be fix the economy, get America moving again? what has BHO done since th eporkulus bill, nothing nada zero. he has NO interest in making things better. he wants to use the time tested technique of promising minorities the world, while giving them nothing beyond a handout. lets face it, he wants us totally reliant on the fed govt. dotn be ingorant and dont insult my intelligence. keep the emotions to yourself, throw facts and figures at me, our country’s future is at stake

realman -
By the way, this is a WORLDWIDE economic meltdown that took place. You probably have your head so far up you think America is the only country in the world suffering and it’s all Obama’s fault.
Every western industrial country has gone through the crashing of banks, companies, factories, unemployment – and they’re spending record deficits just to keep things afloat.
This is serious business . . . you can’t yell at Obama and expect that will fix it. You can’t expect anybody in the world to snap their fingers and suddenly American will be moving again – or the world will be moving again.
It is happening, but it’s happening slowly. People who never suffered through the depression have been pampered so long they expect to ‘fix’ the economy just like flicking the channel changer on a TV. Not likely.

Nephron – perhaps you should study world economics before you go spewing your nonsense.
All of the western industrialized countries instituted major economic stimulus program just like the Democratic administration in the United States. All of those countries largely increased their deficits including Canada
Canada’s unemployment rate rose a 10th of a percentage point to 8.7 per cent – still the highest since January, 1998 – as the number of people looking for work increased faster than the number of new positions”.
The western countries are SLOWLY stabalizing just like the United States is . . . NOBODY is out of the crisis yet.
And nobody else is fighting 2 major wars, both started by THE PREVIOUS ADMINISTRATION – the same administration that doubled the national debt (despite promises of smaller government) and left the country in economic tatters.

” Barack Obama and the Democrat congress have created more debt in 8 months than ALL previous administrations COMBINED.”
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By the way, that’s an absolute lie. You can get the figures for the national debt from the Treasury Board web site.
The national debt when Bush left office was:
10,626,297,420,130.85
Today it stands at
11,787,062,206,713.50
You should get you facts straight if you’re going to pretend your so superior in financial understanding.

You fanatical right wing Republicans are a joke. You left the country in a complete economic free-fall crash and you claim to be good economics. Nice try.

All of the western industrialized countries instituted major economic stimulus program just like the Democratic administration in the United States.
Posted by: julieterra |
That is absurdly wrong.

Why isn’t Obama a Phi Beta Kappa-still no answer!

“The mick’s comment on reckless spending: are you daft? Obama has spent more in 8 months than we had on the entire Iraq war! IN EIGHT MONTHS!”
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It cost far more than the cost of the Iraq was to run the country each year. Bush proved this by doubling the national debt. His overspending went far beyond the cost of the wars.
It’s important to remember that $700 BILLION of the current spending is TARP funds recommended by the Bush finance people when the economy crashed under his feet.
The $700 BILLION in Bush initiated TARP funds almost add up to the cost of the war in Iraq.

Now President Obama wants us to save…
Posted by: WestCoastMessenger |
Americans save money like POTUS saves jobs.

Once again, our President is looking to make things better for working Americans.
Making it easier to save for retirement is another step in the reforms to make our country healthier economically far into the future, as well as helping out individual citizens. I like the ‘big picture’ thinking this White House engages in.

“Obama Aims to Make Retirement Saving Simpler”
By taking and controlling ALL your money.

After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one.
The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person. Then they plan to “securitize” these policies, in Wall Street jargon, by packaging hundreds or thousands together into bonds. They will then resell those bonds to investors, like big pension funds, who will receive the payouts when people with the insurance die.
The earlier the policyholder dies, the bigger the return — though if people live longer than expected, investors could get poor returns or even lose money.

tbruce1, it is common knowledge that Obama graduated with honors. From the dust covers and details in his books, to countless biographies and even wikipedia, they all agree. ‘Obama entered Harvard Law School in late 1988. He was selected as an editor of the Harvard Law Review at the end of his first year,[34] and president of the journal in his second year.[35] … After graduating with a Juris Doctor (J.D.) magna cum laude[37][38] from Harvard in 1991, he returned to Chicago.[34]‘
Notice the phrase ‘magna cum laude’. That is latin for with great honor. Universities vary as to how good you have to be to achieve this depending on your specialty but it usually means you are in the top 5 to 10%. And with Obama competing with all the very smart people who elbow their way into Harvard, he is very smart and knowledgeable indeed.
I’ve read both his books and highly recommend them, especially to anyone who is doubtful of his intelligence and/or commonsense.

did he graduate with honors?? At Harvard? Honors is the key here and also who paid for it? I feel he is a crook,and we havent seen the likes of him. YOu can tell by all of the ideas he wants to implement — nothing out there helps hte average joe (as usual)

Yet another republican memo adopted as a democratic goal while completely ignoring the same reality for most that the republicans ignore; the fact that most of us will never. ever. be able to save enough to pay for our retirement or even part of our retirement.
Also ignoring the fact that we used to live in an economy where one salary could support an entire family decently whereas now both parents have to work full time and it still doesn’t provide much more than the bare minimum at best, let alone measure up to the lifestyle our parents could afford.

Sherri, I don’t know where to begin with your post:
‘did he graduate with honors?? At Harvard? Honors is the key here and also who paid for it? I feel he is a crook,and we havent seen the likes of him. YOu can tell by all of the ideas he wants to implement — nothing out there helps hte average joe (as usual)’
You go on to say you haven’t the time to research what you are talking about. I have to ask you… why post anything at all if it just about how you feel about rumors rather than why you feel that way based on facts.
It is a fact Obama graduated from Harvard, with high honors. He paid for his schooling with loans which it took him years to repay. All of these facts are easily accessible on the internet.
You comment that you ‘feel’ he is a crook, borders on slander. Last time I looked, the definition of slander is ‘communication of false statements injurious to a person’s reputation.’ My grandma always called it gossip of the worst kind, since no facts are behind it, just ‘feelings’.
As for your last statement that his ideas won’t help the average Joe, that is as far from the truth as it could be. Again, your problem may be your lack of research.
In your next post you wonder who paid for the Obama’s vacation and his daughter’s birthday party? Did you ever question any other president’s personal expenses? Are you aware that there are a lot of people employed to make sure no president gets anything they aren’t entitled to? I remember when many former Presidents had to return gifts they took home with them, as they were deemed property of the White House. Everything has to be accounted for. This is all public knowledge, how the White House is run.
I simply don’t understand how people can have negative opinions when they don’t have facts to base it on. I can’t imagine going through life like that, doubting my neighbors or co-workers or Presidents because I ‘feel’ they aren’t honest or good or whatever. It must be truly terrible to make important decisions, based on fears rather than facts.

Me and many others played by the 401k rules since it was started and you filthy scum stole half of it. How about some laws on the banks and Wall street who took the money. If you want people investing in 401k’s you better change some banking laws.