$7,060,259,674,497.51--Federal Debt Up $7 Trillion Under Obama
I don't know how this can be! Our Dear Leader has told us that he's reducing our deficits. And the new Unaffordable Heathcare Act should net further reductions. I'm sure that by the time The One leaves office we will just be SWIMMING in cash!
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This doesn't make sense to me (although politicians often don't make sense) b/c monies in an IRA are shielded from some law suits. It's easier ordinarily for someone to take wealth held outside an IRA. If Congress were going after people's wealth, why would they focus only wealth held within an IRA. You only qualify for an IRA if your income that year was low. So why they go after wealth built by people with lower incomes?
Given the Dems already stated (in late 2013) intention to nationalize 401Ks (and possibly IRAs later), I have already withdrawn everything I can (almost half) right now from my Roth IRAs...
As for the 401K, I can't touch that for over a decade without huge penalties.
Restricts the damage they do.
Apologists for this sort of bad government behavior would claim they have every right come asking for the money. After all it was spent on us. You remember that whole "You didn't build that" thing?
Gridlock would be better than the alternative we had in 08 and 09, but it is so gridlocked they can't rein in the white house either.
So we get the worst of both
https://www.medicare.gov/Pubs/pdf/11306....
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