Now they're after retirement savings
And now we wake up to find that the 0bama administration and the secretaries of Labor and Treasury are making plans to force all IRA owners and 401(k) participants to invest their hard-earned retirement savings in treasury securities or government annuities backed by U.S. Treasury debt.
Although these investments may be good for some of us at certain times, all of us should oppose Obama's efforts to make retirement investment decisions for us.
Our "nanny" government will argue they are trying to protect us from investment losses like those that almost all of us have experienced in the last few years. But, their primary objective is to find a market for the additional trillions in debt with which they will have to deal in the Obama presidency.
China seems to think investment in the U.S. is not such a good idea any more.
Social Security is almost bankrupt, funding for Medicare is being cut drastically, and any other private retiree health coverage we may have as a result of a career of working will probably not survive Obama's health care overhaul.
Our children and their children's children will be struggling with our huge national debt for as long as they live. And now Obama and his left-wing political appointees at Treasury and Labor want to get their hands on our retirement savings.
When questioned, the Department of Labor indicated there would be a "public comment period." But, based on this administration's openness and transparency, we will probably never know when or where that will take place and it will probably be behind closed doors.
Further, Obama and his administration have made it clear they are not really concerned about our views anyway. Enough already!
Kelley C. Smith
Long Grove