We're From the Government and ...

Social Security and Medicare have combined unfunded liabilities of $25 TRILLION and even this is probably understated. To put this number in perspective, the output of the entire U.S. economy for a whole year (GDP) is about $15 trillion. Congress and the White House have raided the Social Security and Medicare "trust finds" for decades and given them i.o.u.'s, which are worth about squat. Even so, the Feds are ringing up budget deficits in the general fund to the tune of $1.2 trillion per year. 

Having done such a stellar job across the board, they now want to grab your 401(K) accounts and other private retirement investment accounts and pour them into a "safe" government administered system. Translation: having burned through all their money, they now want to burn through all yours too. Two Federal agencies have held initial hearings to do just this. This is going to get ugly fast. 

www.nationalseniorscouncil.org/index.php?option=com_content&view=article&id=89%3Aobama-begins-push-for-new-national-retirement-system&catid=34%3Asocial-security&Itemid=62