As I wrote about before, the Obama administration just can’t stand the fact that you have a 401k or an IRA and plan on taking care of yourself when you get retirement age. Actually, it’s not so much that as it is they can’t talk China into loaning us money.

So, they are looking at your 401k and IRAs and licking their lips.

Boortz broke this down and evn translated some government speak. I’m not going to try to do that. You can go over there and read what he said, but this is what it boils down to:

Obama’s budget is setting records in deficit spending. Obama is proposing borrowing every close to the amount of money that the Republicans borrowed in a single year .. but Obama is proposing borrowing that sum EVERY SINGLE MONTH throughout his term of office and beyond.

Earlier this week I told you of a story from the investment press which stated that investors now look at blue chip stocks like Coca Cola as better and safer investments than U.S. Government treasury certificates. China has signaled that it is not in the mood to buy many more U.S. government securities. This is how we finance our debt! If investors and other nations won’t voluntary finance our debt, what does our government do? Well, our government does what governments always do. Fall back on its unique ability to use force to accomplish its goals. There’s a problem here. We aren’t going to force China to buy more Treasuries … so where is the force to be applied? YOU, that’s where.

The government is talking about some form of “lifetime income distribution” and “lifetime stream of income.” (Isn’t this what Social Security was supposed to do?) But just HOW does the government provide this “lifetime” income? Simple … by FORCING you to take all or a portion of your retirement funds and invest them where China won’t go; invest them where private international investors no longer want to go; invest them in Treasury Certificates. Oh yeah … they’ll probably come up with some fancy new name for some fancy new type of T-bill … but the goal and the effect will be the same. You’ll see your money seized by government and used to finance the insane spending plans of politicians .. Democrat and Republican.

Stay alert folks. The government has wonderful ways to couch this in language that seams harmless and innocuous. It’s a money-grab. Nothing less.

I sat and watched my 401k drop $10,000 because of the social engineering experimentation of the American Liberal Establishment. Now, the same intellectual infants want to take my retirement, change it into annuities, spend my saving on government programs that will result in the further erosion of my liberties, and then tell me they are taking care of me.

I ask you, conservative Democrats who voted for Obama because he’s a Democrat and you always vote (D), is this what you wanted?

Related posts:

• House Democrats Aim to Remove 401k Tax Breaks
• Press Release from Americans for Tax Reform
• Compared to the Federal Government, Bernie Madoff is a Piker
• Bernie Madoff v. Social Security
• How The Obama Administration Plans to Screw With Your 401k