A liberal coworker of mine came up to me and said, "You know, I just read about this 401(k) thing. That doesn't seem right..."

Yeah, and our 401k program is set up that you CAN'T close it UNTIL you retire. Friggin' sucks.

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If you always do as you've always done, you'll always get what you've always gotten.

OMG, that's very scary. Please, please don't let this happen. I didn't read the story in the link. Does this include Roth IRA's also? (Sorry, I'm at work, it's hard to read it without getting busted)

It's not bad enough that the government forces me to pay into Social Security that I'll never see... now they have to dip into my personal retirement savings.

God bless America.

brook, it didn't say anything about roth's, but I wouldn't be surprised as that's another popular form of investment.

This is what my dad was yelling about when he came home for lunch today. This would be such a setback in regards to how much my parents have already put away. My dad wants to retire in 5 years, but lately that's been turning into 10, 15.... Or never.

I can unequivocally say this is a huge step in the wrong direction.

This is what terrifies me about an Obama presidency with a Dem majority.

Start stuffing cash in your mattresses folks!

My only hope is that Obama has said that he will try to govern from the center. I'm praying he's being genuine there. Also, I hope people are worried about their own re-election, so that won't let things get too far from the middle. This plan does not sound middle of the road at all.

But this is what is best for the greater good...right?

Sent the link to citizen. We'll see.

Is there testimony or any Obama position paper to support this claim?
I couldn't find one and all I kind find to remotely support this is record of testimony by a woman - not someone with the Obama campaign - who advocates a plan similar to this. But I can't find ANYTHING that says anything like this on any Obama site. I CAN find right wing blogs that repeat this same information, but nothing that gives a real source. It looks to me like someone has taken the notion that someone (NOT Obama) discussed this idea and let their scary imagination run wild.

Well, this is in the article itself:

Rep. Jim McDermott (D-WA) said recently that Democrats had better ideas for the $80 billion that Americans contribute to their 401(k) plans each year. "We have to start thinking about whether or not we want to continue to invest that $80 billion for a policy that's not doing what we say it should." Sen. Obama would likely sign on to the plan as president.

I definitely don't want my 401k taken away, but I don't see the connection to Obama. It seems like the article is trying to say if Obama is president, any crackpot idea from any democrat in congress will definitely pass.

I read the article: it makes assumptions and connections but offers no supporting facts. What True said.

well if Obama votes with his party 97% of the time, is it wrong to think that it might be likely he'll vote for this too?

and he does have the mccain attack ad where he attacks mccain for wanting to privatize social security...

But haus, that doesn't mean that he votes with every Democrat every single time.

Sorry, but this article is just almost comical in its stretch to connect Obama to this idea.

no it doesnt mean every time, but this is an idea that i think shouldnt have any traction whatsoever.

its not outlandish to think that it would get traction with a Dem pres.

like i said, i'm praying that politicians are self-centered enough to care only about re-election and therefore be moderate. i'm fairly confident that politicians are self-centered sooooo....

*esp a Dem pres that believes heavily in gov't intervention.

But there's absolutely nothing to indicate Obama supports this. It just says one guy said we should think about how best to invest the money people put in 401ks. It's really awful reporting.

not so fun when the shoddy reporting is against your side hmmmm??

Well if something like this comes up as a bill in congress, everyone will have to mount a vigorous campaign against it. The government has already shown that they will not keep their hands out of the SS funds so if something like this were to pass, you know they would be dipping into it as well.

I am sorry but "Sen. Obama would likely sign on to the plan as president", doesn't count as proof...it is some unrelated person's opinion. Notice it is outside the quotes of Senator McDermott, AND what that man said was incredibly vague and said only that he should start thinking about ways to improve the system we have. Are people so threatened by representatives actually thinking?

Did ANYONE look at the source of this? It is just some guy that "is neither a journalist, nor a pundit. He is a citizen with a keen interest in politics and national issues. He brings an everyman’s perspective to political happenings and strives to find the subtleties of political strategy behind even the most conventional political plays."

So it is just some random guy spinning, with out any insight into the situation . No sources are listed, no comments from the candidate himself, no policy plans from the Obama campaign. The fact that people would buy into this will absolutely no proof to back it up is scary. The fact that people would take a quote about improving a system and twist it to mean the seizure of 401k funds is just absurd. I know you don't like Obama, but I am sure there are some REAL policies that you could pick a part. Why waste time on the made up ones?

"its not outlandish to think that it would get traction with a Dem pres."

It doesn't appear that you understand what the Democrats actually stand for.

Well Jill since you are so well versed, why don't you tell us all what Democrats stand for?

But I'm sure my feeble mind won't be able to handle it right?

there is absolutely nothing wrong with what i said.

There is a lot of speculation in this article. I take it with a grain of salt, and I will with articles doing the same on the other side of the coin. (I see a lot of b.s. like this on both sides, I will strive to be an equal opportunity critic.)

So anyway..yeah. Phrases like:
"would likely move to put it in place"
"would likely sign on to the plan"

= speculation, not real journalism.

real journalism. sigh. too bad we've never had real journalism... ever.

Just like my guns and my Bible, they can pry my 401(k) from my cold dead hands. That's the only way ANY government will get my own hard-earned money outa my own control.

Obama could very well be the antichrist.

I guess we'll never know, huh? Because all those *real* journalists are so busy asking Obama some *hard* questions.

sorry folks but this is not true and was written by a Republician..

This is sooooooo Ridiculous!! Educate yourself and freaking google for the damn info.. Some people are so easily Led

HEY George Bush and His administration has really helped with peoples retirement plans.. Most people I know have lost theirs... Why not look for more positive things to say instead of fear mongering

lol, like you just did?

let's change quote to "clinging to our guns, religion & mattresses."