I just heard in Obamas State of the Union that he would be signing into effect something called a "MYRA" (standing for "My Retirement Account".
The way he speaks, it will be a retirement account that is somehow backed by the Federal Government.
Now, call me old fashioned, but it was the Federal Government that setup Social Security. Today, we are facing the eventual drainage after it has been syphoned out for other interests. Is it hard to beleive, for me anyways, that this wont end up just another program designed to create profit for those boys on the hill...
I guess we will see though, perhaps it will, in fact be a source of renewed faith in the American Dream. Perhaps we will, as senior citizens, WILL be able to say, "I sure am glad I stayed in America". I know that as I was growing up in America, I did look forward to the day that I could say "Hey, I worked hard to get where I am, time to slow down and reflect without worrying about how Im going to get through the day". You must admit - it is a golden dream of sorts. No one want to work through their 80s, or even 70s for that matters.
Time will tell America, time will tell.
All rights reserved 2022 Currency Information and Research