Savings, Working, and Retiring Today

    A study was released this week that showed more than a third of Americans, (36%)a have saved nothing for retirement. That got me thinking about the idea of retirement and the state of retiring in this country. Everyone thinks they can retire at age 65. It’s an American ideal born in the last century with the rise of unions, the defined benefit plan, and generous | Read More »

    My Understanding of Ben Bernanke And The Taper

    The Federal Reserve gets accused of many things. The Chairman of The Federal Reserve, Ben Bernanke gets accused of many things. Is he E-vil? Nope. Is he a Great American? Probably not. So just what is Bernanke doing? My theory of Ben Bernanke’s mysterious objectives goes as follows.

    Ben Bernanke is presiding over what he hopes will be the successful retirement of the largest demographic cohort in contemporary America. The Post WWII Baby Boom is far larger than the generation ahead of it (The Silent Generation) or behind it (Generation X). Boomer columnist and political observer Peggy Noonan once described the Baby Boom Generation as “America’s basketball in the python.” This is not their fault, per se, but it does make them pose a challenge to the rest of us as they drift towards the bottom of the actuarial charts. The current $85Bn per month of QE is the periodic glass of Metamucil-Juice prescribed by Dr. Bernanke to help the python pass the basketball.

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    “Fairness” Punishes Success

    In another class-warfare move, The Hill reports on the latest Obama gimmick: his yet-to-be-released budget will include a cap on IRAs and other retirement accounts. Currently, there are no limitations on how much money can be in an IRA. The White House has a problem with that. The senior administration official said that wealthy taxpayers can currently “accumulate many millions of dollars in these accounts, | Read More »

    Retirement is Profitable for University of Colorado Regent Irene Griego

    Promoted from diaries. A top member of the University of Colorado Board of Regents is receiving a near six-figure paycheck in addition to being eligible for a six-figure pension for state employees, both paid for by Colorado taxpayers.  Irene Griego, who was sworn in to her position as a regent in December of 2011, spent 38 years as a public educator prior to joining the | Read More »

    Retirement is Profitable for University of Colorado Regent Irene Griego

    Promoted from diaries. A top member of the University of Colorado Board of Regents is receiving a near six-figure paycheck in addition to being eligible for a six-figure pension for state employees, both paid for by Colorado taxpayers.  Irene Griego, who was sworn in to her position as a regent in December of 2011, spent 38 years as a public educator prior to joining the | Read More »

    Paul Tonko’s (D-NY 21) Idea of “Risk”

    Cross posted on Upstate Political Report Career politician Paul Tonko, who spent decades in the New York State Assembly and is now running for reelection as Congressman for NY’s 21st District, explained his idea of “risk” during Thursday evening’s debate with challenger Ted Danz. Paul Tonko served in the New York State Assembly from the 105th District, which has been heavily Democrat. As an incumbent, | Read More »

    Social Insecurity – Kiss Your Security Goodbye

    Unfortunately, you can kiss your Social Security goodbye from the day it started, and the victims (some would call us suckers) of this scandal are the American people.  When FDR hatched the scheme of having workers contribute a portion of their income to the Social Security Trust, it was with the promise that those who contributed to the “insurance” program would receive benefits from that Trust | Read More »

    Bart Stupak (D, MI-01) cuts and runs.

    (Via The Business Insider) No question mark on this: Marc Armbinder’s first mention has been expanded upon here, and CBS News is now reporting it as well.  This should surprise nobody: we’ve been expecting this announcement since Wednesday.  Particularly since the Tea Party folks are going to – justifiably – claim at least the assist on this scalp*. So… Stupak betrays the pro-life movement and | Read More »

    Buh-Bayh

    There’s a new strain of Potomac Fever spreading through Washington. Democrats seem to be most susceptible to the disease. Senator Evan Bayh (D-IN) is the latest victim to succumb in a string of illnesses. Potomac Fever is usually associated with the love of Washington; the love of power and politics. This new strain of the bug, however, has had quite the opposite effect. As Josh | Read More »

    Yes, Earl Pomeroy (D, ND-AL). Why DON’T you retire?

    Doing so will save us the trouble of removing you from office in November.  Which we will. This is a bad year to be a Democratic incumbent in a Republican district. In an emotional talk with other Democrats on the Ways and Means Committee this week, North Dakota Rep. Earl Pomeroy said the protracted debate is hurting him so badly back home that he might | Read More »

    Uncle Sam Plants To Steal Your 401k’s

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    Obama wants your 401(k)

    There are intiatives floating around that will explore how the government can tinker with your 401(k), like a great white shark circling, bumping, testing ever so quietly.  One initiative to suck more money from you is a requirement to convert some portion of your 401(k) to an annuity at some point (like annuities sold by AIG and to prop up the treasury market).  There is “a tremendous amount of | Read More »

    The side effects of a big bureaucracy

    When we allow government to grow large, and especially large and unionized, the effects on our society are greater than just the weight of the government yoke on the backs of the American people. There are other, hidden effects to consider when such concentrations of left-wing power are brought together. That is a lesson all Americans can take from the latest from the California Public | Read More »

    Boo-freakin’-hoo

    Good grief.So today I read over at msnbc about folks in their early 60s who still have to work, rather than play golf all day.http://www.msnbc.msn.com/id/27700954/The whole tone of the article, from the title to the oh-so-sad photos, suggests that there is some great tragedy in people still working in their 60s. Is this something I should be crying about? In defense of the people interviewed, | Read More »

    Am I the ONLY one in this country who heard it?

    Was I the Only one in this country to hear it? In the 2nd pres debate Obama should have lost every voter over the age of 50. Yet no one in the media or anywhere else have I found even a mention. First question out the gate concerned retirees & living off dwindling Social Security, Savings, and investments. Neither candidate answered. Then the question of | Read More »