For anyone with a private retirement account be aware that the government is giving thought to taking it over. If you believe that the government has done a good job running Medicare, Social Security
(both near bankruptcy) and other programs then you will be okay with a
government take over of your private retirement accounts. However,
there is a huge downside to doing so. What the government has done is
spend all of our Social Security contributions. The so called "social
security lock box" which was originally intended to secure our money
until we retired has, instead, no real money in it. Real money has
been replaced with IOUs. Current retirees are funded by current
workers. The problem is that there is an increasing number of retirees
and a declining number of workers. Given our nation's dire financial
condition where do you think the government is to get the funds to back
fill the IOUs? It cannot and will not be able to because of our huge
national debt, hence, benefits will be reduced, retirement age extended,
taxes raised or worse. If you don't want your private retirement
accounts to be raided and suffer the same consequences as Social
Security, then you and your fellow workers need to demand the
government leave your money alone. The point is that the government is
badly in need of hard cash and your retirement accounts are there for
the pickings. The below link provides the details. Please, for your
retirement's sake, check it out and take action to prevent the potential
theft of your hard earned savings. George Burns
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