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President Obama: If You Like Your Retirement Plan, You Can Keep It - Live Feed

Tyler Durden's picture


This should be good - President Obama sets out to explain how his new "MyRA" plan is for your own good...


As we highlighted last night:

Presenting: the MyRA, and since it offers "guaranteed return and no risk" we now know where all the Fed's bond trades will go to work once QE ends.

From the president:


Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans. Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can...


Or put another way - if you like your retirement account you can keep your retirement account.

And just like that, the "automatic" continuity to the Fed's Quantitative Easing is ensured. no-repeat; padding-top: 13px; height: 30px; float: left;">JOIN THE LIVE CHAT

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Wed, 01/29/2014 - 15:10 | 4380818 hedgeless_horseman
hedgeless_horseman's picture



The FOMC will probably reduce the pace of its asset purchase
program by another $10 billion at its meeting today...

...with the hope that MYRA will fool first-time savers into picking up the slack and buying the nation's debt.

Wed, 01/29/2014 - 15:11 | 4380823 CH1
CH1's picture

Do people still watch this cartoon fool?

Wed, 01/29/2014 - 15:12 | 4380835 hedgeless_horseman
hedgeless_horseman's picture



Do people other than banks still buy US Debt?  At least the banks can use treasuries as capital for fractional reserve lending.

Wed, 01/29/2014 - 15:12 | 4380844 Bearwagon
Bearwagon's picture

Does a cheese need a pope?

Wed, 01/29/2014 - 15:16 | 4380870 Rick Blaine
Rick Blaine's picture

After his second term ends (or he is impeached or resigns...whichever comes first), Obama first start a hedge fund or something.

He's got all this shit figured out.

Wed, 01/29/2014 - 15:20 | 4380908 gbresnahan
gbresnahan's picture

maybe he'll start his own crypto currency.. Øbamabucks

Wed, 01/29/2014 - 15:28 | 4380968 TeamDepends
TeamDepends's picture

Let's face it, the rollout of MYRA was just another in a long line of fundraising speeches.

Wed, 01/29/2014 - 15:30 | 4380990 jimmytorpedo
jimmytorpedo's picture

How about you just stop stealing 50% of our income for useless wars and unemployed mothers and screw the MYRA?

If you like your money you can keep your money.

Has a nice ring to it don't you think?

Wed, 01/29/2014 - 15:49 | 4381107 Boris Alatovkrap
Boris Alatovkrap's picture

In new USSA, you are not retire, government is retire you.

Wed, 01/29/2014 - 15:59 | 4381162 kralizec
kralizec's picture

Don't retire me bro!  Er, comrade!

Wed, 01/29/2014 - 15:53 | 4381134 A Nanny Moose
A Nanny Moose's picture

Meanwhile in Over-The-Counter world, MYRA is up 900%.

Further demonstrating prescription strength stupidity.

Thu, 01/30/2014 - 16:03 | 4385127 Boris Alatovkrap
Boris Alatovkrap's picture

MyRA is perfect secure investment vehicle... obligor can alway just CNTL-P (Command-P on Mac) to meet redemption. Beside, redemption is for non-interest bearing Federal Reserve Note. So, what is not new?

Wed, 01/29/2014 - 16:05 | 4381200 Chief KnocAHoma
Chief KnocAHoma's picture

You're dreaming. He won't be impeached nor will he resign. In fact I would estimate the odds are better than 50/50 that the USA has had it's final presidential election. One good major melt down and lefties will seize power, wealth, assetts, the internet, you pets and, if you're lucky, your mother-in-law.

Welcome to the future bitches!

Wed, 01/29/2014 - 15:27 | 4380876 hedgeless_horseman
hedgeless_horseman's picture



"guaranteed return and no risk"

Fractional reserve lending allows banks to leverage the capital they loan to the USA when they buy treasuries (at a pitiful yield well below actual inflation, aka "guaranteed return") so that the banks can actually generate a legitimate return.  However, the poor, ignorant, first-time saver, myRA retards that lend money to the congressional debt addicts are stuck with just the coupon, they don't have a bank charter.

This is sad...even criminal...on so many levels, this being one of them...

Inflationary Risk  - The uncertainty over the future real value (after inflation) of your investment.

First they came for granny's retirement, ZIRP, and I said nothing.

Then they came for young persons' savings, myRA, and I said nothing.

Finally they came for my wealth, and there was nobody to speak up for me.

Wed, 01/29/2014 - 15:45 | 4381072 Greenskeeper_Carl
Greenskeeper_Carl's picture

it is pretty disgusting really. Its also hilarious. The very idea of loaning money to the most indebted entity in the history of the world as an investment strategy is beyond stupid. And to top it off, the interest you are paid is ptifully low and well below real inflation. and yet most people don't understand thats what you re doing buying these bonds. guaranteed return and no risk by loaning your hard earned money to a bankrupt govt.

Wed, 01/29/2014 - 16:00 | 4381170 James-Morrison
James-Morrison's picture

We had ObamaCare and now ObamaIRA.

I have't heard Pelosi's take yet: "You'll have to invest in it to find out what's inside it."

We better hope ObamaIRA works. Otherwise, they are going to be forced to loot all other financial assets for the dough.

Maybe a forced conversion of Gold into ObamaIRA...

Wed, 01/29/2014 - 17:17 | 4381619 Greenskeeper_Carl
Greenskeeper_Carl's picture

I will tell you whats in it so we don't have to wait for pelosi: a supermassive blackhole which takes your money, gives you a little more than you put in, but not enough to outpace inflation

Wed, 01/29/2014 - 17:29 | 4381683 StychoKiller
StychoKiller's picture

WTF is a "decent return?"  Any return at all WILL have a RISK associated with it!  Fer fscks sake, will someone gimme some of those crazy pills already?

Wed, 01/29/2014 - 15:18 | 4380881 TeamDepends
TeamDepends's picture

"Some people are going to earn more money than others".  And some will receive money they don't earn, simply by enlisting in the FSA.

Wed, 01/29/2014 - 16:07 | 4381222 Nick Jihad
Nick Jihad's picture

If you're not getting something for nothing, you're not getting your share!

Wed, 01/29/2014 - 15:14 | 4380848 remain calm
remain calm's picture

I am all in, I trust the nigga

Wed, 01/29/2014 - 16:06 | 4381216 Chief KnocAHoma
Chief KnocAHoma's picture

Damn thats funny!!!!

Wed, 01/29/2014 - 15:18 | 4380855 Pool Shark
Pool Shark's picture



MyRA up 900% today!!!

Guaranteed Return with NO RISK!!!    ;-)

[Yes, I'm talking my book]

Wed, 01/29/2014 - 15:21 | 4380934 Pool Shark
Pool Shark's picture



I am hereby announcing the offering of initial shares in the,... wait for it,...

"MyRA Equals Gold No. 1" Fund.

Our motto is:

"Guaranteed Return; NO RISK!!! It's just as solvent as the Federal Government."



Wed, 01/29/2014 - 15:58 | 4381159 A Nanny Moose
A Nanny Moose's picture


"It's just as solvent as the Federal Government."

Bam! There it is, in a nutshell. How can people expect and entity which is $17T in the hole, to save for their retirements, by going trillions more in the hole?

Anybody who buys this, deserve what they get.

Wed, 01/29/2014 - 15:59 | 4381171 Bunga Bunga
Bunga Bunga's picture

The real MyRA will look the same after every reverse split.

Wed, 01/29/2014 - 15:13 | 4380847 NotApplicable
NotApplicable's picture

Cartoons for adults are a booming business these days, doncha know?

Wed, 01/29/2014 - 15:13 | 4380852 Overfed
Overfed's picture

This is where he announces full-tilt despotism. The veil shall be lifted and the sheeple will cheer.

Wed, 01/29/2014 - 15:18 | 4380901 pods
pods's picture

This guy gives more pep talks than Chancellor Sutler.

Methinks people groan silenty and wonder if this guy ever shuts up.


Wed, 01/29/2014 - 17:28 | 4381684 noless
noless's picture

The "unilateral action on the economy if Congress won't act" talk leaves me quite unable to argue with you.

Wed, 01/29/2014 - 15:17 | 4380889 SAT 800
SAT 800's picture

Every time I see his picture; I think to myself, there goes a perfectly good golf caddy, wasted.

Wed, 01/29/2014 - 16:02 | 4381094 kralizec
kralizec's picture

"...there goes a perfectly wasted golf caddy..."


Wed, 01/29/2014 - 15:21 | 4380932 Deathrips
Deathrips's picture


Wed, 01/29/2014 - 15:51 | 4381114 WillyGroper
WillyGroper's picture

Apparently. I don't know whether to weep or just slit my wrists.

I was just told his speech was beautiful & what an eloquent speaker he is.


Wed, 01/29/2014 - 18:43 | 4382033 Zymurguy
Zymurguy's picture

Who is John Galt?

Wed, 01/29/2014 - 15:12 | 4380832 Headbanger
Headbanger's picture

Oh pleeeezz.. Enough already!

Wed, 01/29/2014 - 15:54 | 4381131 Mr Pink
Mr Pink's picture

If my math is correct or close...If every working American contributed 10% of their paycheck to MYRA that would buy 1 trillion dollars per year in Treasuries.

QE? Who needs QE?

Edit- 500 billion

Wed, 01/29/2014 - 16:23 | 4381320 Greenskeeper_Carl
Greenskeeper_Carl's picture

that may take care of the treasuries portion of QE, but what about all those MBS's? If those things were purchased by anyone other than the fed, as in actually marked to market, they would probably be going at pennies on the dollar of their 'face value'. The fed is buying them up at face value. Is that just going to keep going until the fed basically holds everyone's mortgage?

Wed, 01/29/2014 - 17:10 | 4381589 Mr Pink
Mr Pink's picture

Idk, maybe...Obama Xmas club?


Wed, 01/29/2014 - 15:10 | 4380830 HedgeAccordingly
HedgeAccordingly's picture

HMM FOMC pre thoughts -

Wed, 01/29/2014 - 15:11 | 4380839 Dr. Engali
Dr. Engali's picture

Oh for cripes sake! Does this limp wristed pencil dick ever shut up?

Wed, 01/29/2014 - 15:16 | 4380871 Pool Shark
Pool Shark's picture



If you like your silence, you can keep,.. oh, nevermind...


Wed, 01/29/2014 - 15:19 | 4380906 SAT 800
SAT 800's picture

It's very important to push the mute button right away; otherwise you might get some on you.

Wed, 01/29/2014 - 15:22 | 4380927 SAT 800
SAT 800's picture

I need the talking bears to 'splain this to me; this kind of talking has way too many words in it.

Wed, 01/29/2014 - 15:14 | 4380853 buzzsaw99
buzzsaw99's picture


Wed, 01/29/2014 - 15:13 | 4380854 Bobportlandor
Bobportlandor's picture

So ZH was right they would eventually come after your retirement accounts.


Wed, 01/29/2014 - 15:20 | 4380921 Seasmoke
Seasmoke's picture

NO. George Carlin was right. 

Wed, 01/29/2014 - 15:48 | 4381092 halfawake
halfawake's picture

maybe he is a tyler...

Wed, 01/29/2014 - 16:19 | 4381267 Emergency Ward
Emergency Ward's picture

"It's a big club and you ain't in it."  "And if they tell you you're not a team player, congratulate them on being observant.”

Wed, 01/29/2014 - 16:23 | 4381321 TeamDepends
TeamDepends's picture

Alternate ending:  It's a big club, and you just got wacked upside the head with it as a distraction so they could loot your retirement funds.

Wed, 01/29/2014 - 15:16 | 4380864 pods
pods's picture

Is there a risk of losing my money by buying bonds of a bankrupt government in my Myra?

"No risk of that."


Wed, 01/29/2014 - 15:35 | 4381013 TheFourthStooge-ing
TheFourthStooge-ing's picture

It's as solid as the unicorn mines.

Wed, 01/29/2014 - 15:47 | 4381089 kralizec
kralizec's picture

Is that where skittles come from?  Who knew?!

Wed, 01/29/2014 - 15:15 | 4380867 Lokking4AnEdge
Lokking4AnEdge's picture

MyRa = My Rheumatoid Arthritis

Wed, 01/29/2014 - 15:22 | 4380936 CrimsonAvenger
CrimsonAvenger's picture

MyRa = My Rectal Agony

Wed, 01/29/2014 - 15:48 | 4381101 LFMayor
LFMayor's picture

This, as in rolled in resin and crushed glass, a la "bloodsport"

Wed, 01/29/2014 - 16:25 | 4381329 Greenskeeper_Carl
Greenskeeper_Carl's picture


Wed, 01/29/2014 - 15:17 | 4380882 q99x2
q99x2's picture

HaaHaa NSA, CIA and DHS the Totus is coming for your money now.

Wed, 01/29/2014 - 15:16 | 4380885 Father Lucifer
Father Lucifer's picture

More like a used car salesman sad for US.

Wed, 01/29/2014 - 15:17 | 4380888 Debtonation
Debtonation's picture

What is a "decent return"?  Is it what Obama thinks the interest rate should be?  Who is going to pay the interest?  Taxpayers?  I don't want to pay interest on money I was forced to borrow.

Wed, 01/29/2014 - 16:26 | 4381346 Greenskeeper_Carl
Greenskeeper_Carl's picture

No shit. How are you liking paying interest on the 30 billion borrowed to fight WWI? who asked you anyway? back to work, bloody peasant

Wed, 01/29/2014 - 15:20 | 4380920 ebworthen
ebworthen's picture

Is he trying to look like he works for a living?

Wed, 01/29/2014 - 15:52 | 4381119 sangell
sangell's picture

Seems to me is selling securities and offering investment advice without a license. Can we have him arrested?

Wed, 01/29/2014 - 16:11 | 4381245 A Nanny Moose
A Nanny Moose's picture

Perfectly legal for those in gummint....just like insider trading.

Wed, 01/29/2014 - 15:22 | 4380930 Frank N. Beans
Frank N. Beans's picture

when this guy talks to middle class, working type people, he calls them "folks."

when he talks to his benefactors, he calls them "sir" and "ma'am."


Wed, 01/29/2014 - 15:50 | 4381104 kralizec
kralizec's picture

...both refer to him as "bitch".

Wed, 01/29/2014 - 15:24 | 4380942 Seasmoke
Seasmoke's picture

HAMP will save 4 million homes from foreclosure. 


If you like your health insurance. You can keep your health insurance. 


MyRA. No risk. Decent return. 


I'm. Sure I'm missing a thousand more. 

Wed, 01/29/2014 - 15:38 | 4381026 Crawdaddy
Crawdaddy's picture

This myra thing is the financial equivalent of cash for clunkers, pouring sodium silicate into the engine of whats left of the middle class.

Wed, 01/29/2014 - 15:23 | 4380946 fuu
fuu's picture

Automatic deduction from paycheck, no chance to lose, principle does not go down, backed by full faith and credit of the US.

Wed, 01/29/2014 - 15:31 | 4380999 TheFourthStooge-ing
TheFourthStooge-ing's picture

Cue slow-motion eagle in flight superimposed over a US flag slow-motion flapping in the breeze.

Wed, 01/29/2014 - 15:52 | 4381112 hedgeless_horseman
hedgeless_horseman's picture



Wilford Brimley will be the spokesperson, or someone young and fresh, like David Hasselhoff?

Wed, 01/29/2014 - 16:28 | 4381361 Greenskeeper_Carl
Greenskeeper_Carl's picture


Wed, 01/29/2014 - 21:09 | 4382645 NeoLuddite
NeoLuddite's picture

The American bald eagle steals more than it hunts. Fact is it's not a true eagle. The bare-ankled bald eagle is a type of sea eagle that diverged from the African vulture lineage only a few million years ago.

Although it may at times hunt, it retains the vulture's ability to survive an entire lifetime on carrion or by stealing  prey away from other predators. It's not obligated by instinct to primarily hunt live prey.

America's national bird is both a thief and a scavenger - odd that it's so prominent on the presidential seal.

Wed, 01/29/2014 - 15:24 | 4380950 shutdown
shutdown's picture

The president's plan will prove popular, particularly with the young and poor.

Another big deduction from their paychecks will be for their own good and make America stronger..

Wed, 01/29/2014 - 16:21 | 4381306 Emergency Ward
Emergency Ward's picture

Can they auto-invest with EBT deductions?

Wed, 01/29/2014 - 15:26 | 4380967 sparkydoodle
sparkydoodle's picture

Just announced!

O announces that Joe Biden will be the MyRA fund manager.

Where do I sign up?

Wed, 01/29/2014 - 15:28 | 4380970 MedicalQuack
MedicalQuack's picture

The Postal Office of Inspector General is right out here too recommending that the Post Office go into offereing financial services..not a bad idea I think as they don't have to collaborate w/banks, they can choose credit unions for one..and heck no bank in rural areas can compete with Post Office locations and it would give them some revenue streams too..and why not let the Post Office take Bitcoin...

In the UK you have Facebook and Barlcays now sponsoring a start up company that is there to help people use the web.  This same company also wants to teach folks how to lovely for Facebook and Barclays...get more data online to mine and sell..and the start up gets funded...geez..make the post office idea look really good.

Wed, 01/29/2014 - 15:28 | 4380974 Joebloinvestor
Joebloinvestor's picture

Competing with the banks and all investment securities.

No mention of the major penalties for early withdrawal (if you even can).

Hidden in the fine print will be the non transferable to heirs clause and outright seizure if the government needs your money.

Wed, 01/29/2014 - 16:11 | 4381238 Nick Jihad
Nick Jihad's picture

The 'outright seizure' clause applies to all of your property, whether the fine print mentions it or not.

Wed, 01/29/2014 - 15:29 | 4380982 corporatewhore
corporatewhore's picture

hmmmmm.... which option for me?  Bush's investment of my social security funds in the stockmarket?  or a MyRA?

can it get any better than this, livng the dream?

Wed, 01/29/2014 - 16:16 | 4381274 A Nanny Moose
A Nanny Moose's picture

False dichotomy with a dose of straw-man. Let's get to the real problem here.

Consenting to theft.

Wed, 01/29/2014 - 16:37 | 4381404 corporatewhore
corporatewhore's picture

please give it a rest.  I could care less whether it's by a Republican or Democrat.

they're both idiotic schemes put forth by meaningless front men.  All designed for thievery without a trace of difference between the two.

Wed, 01/29/2014 - 15:34 | 4380993 Save_America1st
Save_America1st's picture

100 million unemployed workers and rising with most barely making ends meet and on part-time hours....over 50 million on food stamps and rising...many more 10's of millions and counting either losing healthcare or getting "affordable" healthcare that costs more than their underwater upside mortgages or more than they would make in a year while living on perpetual unemployment.

Not to mention the inflation on food and fuel that's going to smash us all upside the heads soon enough (except for the D.C. scumbags who are inflation-free).

Who the fuck does this cock sucker think is going to want to buy bonds, and even if they wanted to, how are they going to afford them?  Will there be a tax payer subsidy for the unemployed to buy bonds now too!???? 

What the fuck...over???

Wed, 01/29/2014 - 15:37 | 4381029 corporatewhore
corporatewhore's picture

I know you're listing all his accomplishments but could you temper the enthusiasm?

in the end remember "it just doesn't matter" (Meatballs)

Wed, 01/29/2014 - 15:45 | 4381070 Save_America1st
Save_America1st's picture

lol....yeah, right???  Or:  "What difference does it make?"

~ The Hildabeast

Wed, 01/29/2014 - 16:42 | 4381441 corporatewhore
corporatewhore's picture

glad you lol.

The thought of a choice between Hillary and Whomever--Romney II, christie, that Texan marlboro man???? that makes Bush II sound brilliant.*   Is there no one in a country out of 200 million people that can be found to lead a nation totally lost and floundering?   To vote for a woman with no real populist feelings--ie, the rewriting of the bankruptcy laws etc was my favorite-- or a Republican who wants to return to the days of the make believe Leave It to Beaver?

I honestly don't know what I'll do.

Wed, 01/29/2014 - 15:34 | 4381010 Cannon Fodder
Cannon Fodder's picture

So how is this different than just opening an IRA account at Ameritrade or some other brokerage. Open account, put money in it, buy what ever you want... it already exists....

But just like Obamacare, if you don't have the money for insurance or retirement savings, what good is this? You have to have money to put in it first.....

Wed, 01/29/2014 - 15:36 | 4381012 ifishivote
ifishivote's picture

Its never going to work. Who is he targeting? If people that work at Home Depot, Mcdonalds, Walmart etc... have  access to 401(k)s who in the hell will buy these bonds? This is just some nonsense that will never get off the ground. Not a chance in hell Obama knows how a bond works.

Wed, 01/29/2014 - 15:39 | 4381033 TheFourthStooge-ing
TheFourthStooge-ing's picture


Not a chance in hell Obama knows how a bond works.

Sure he does:

Wed, 01/29/2014 - 15:42 | 4381036 gwar5
gwar5's picture

Sickening. Of course this is the exit strategy for the FED, always has been.


When the USD and Treasuries become worthless in the new Obamazuela, the private 401K's will then be confiscated and the action can be sold as the "morally necessary" action required to bail out fellow citizens dupes who bought into the MyIRA crap sandwhich  --- instead of an obvious bailout of the private bankers and FED.

They knew how they were going to dump all this odious debt, it was just a matter of working out the details to mask their deceit. Amazing.


Wed, 01/29/2014 - 16:33 | 4381384 Greenskeeper_Carl
Greenskeeper_Carl's picture

next you will be forced to hold a % of your IRA/401k in treasuries, which you must buy from primary dealers. they will sell it to the peasants as neccessary to protect them from the next gov/bank created financial calamity. nevermind that they are forcing you to buy garbage debt of a bankrupt country while giving jamie and lloyd a piece of the action along the way

Wed, 01/29/2014 - 15:42 | 4381053 I Write Code
I Write Code's picture

For one thing, I don't see that President Jugears has the statutory authority to do any of this.

For another thing, who cares?  Apparently this addresses the "problem" that to open a regular IRA may require a minimum of $1,000 or so.  Is that really a *problem*?  Who wants a retirement fund with only twenty-five dollars in it?  If those are your finances your tax rate is probably zero already!

Jugears just don't do numbers.  Or constitutions.

Wed, 01/29/2014 - 15:44 | 4381060 Caveman93
Caveman93's picture

Tell Obama I cannot save anything when my health premiums have tripled, gas is $4 a gallon and I haz no jobz! What a buffoon!

Wed, 01/29/2014 - 16:01 | 4381185 kralizec
kralizec's picture

Don't forget food (beef for example) or natural gas (if you need heat) or several hundred other items made more costly by Neo-Keynesian asshats, statist goons and sundry parasites in the progressive-crony complex!

Wed, 01/29/2014 - 15:47 | 4381086 Winston Smith 2009
Winston Smith 2009's picture

"MyRA guarantees a decent return with no risk of losing what you put in."

What's a "decent return"?

Wed, 01/29/2014 - 16:08 | 4381199 Save_America1st
Save_America1st's picture

maybe he means if you buy them to support the "regime" then you'll get to be the last on the "list" marked for "round up".  The rest of us who chose not to buy in favor of Ag/Au phyzz will be marked as enemies of the state, rounded up first, then gassed or shot in the head.  How's that for a decent return on investment?  lol

I've been sending people this Martin Niemoller quote for years.  I'm starting to see it actually happening, but we'll have to update it for stackers, patriots, preppers, Christians, Veterans, and Constitutionalists:


First they came for the Socialists, and I did not speak out-- Because I was not a Socialist.

Then they came for the Trade Unionists, and I did not speak out-- Because I was not a Trade Unionist.

Then they came for the Jews, and I did not speak out-- Because I was not a Jew.

Then they came for me--and there was no one left to speak for me.

Wed, 01/29/2014 - 16:28 | 4381353 paint it red ca...
paint it red call it hell's picture

Better question, "no risk" to whom???

Wed, 01/29/2014 - 15:55 | 4381138 10mm
10mm's picture

This is done to grease the skids for more evasive action.

Wed, 01/29/2014 - 15:56 | 4381143 Occams_Chainsaw
Occams_Chainsaw's picture

Let's just hope we don't run out of burrito coverins'.

Wed, 01/29/2014 - 16:03 | 4381194 vulcanraven
vulcanraven's picture

"And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans."

Come on tough guy, stop blaming congress and whip out that executive order wand to fix the "upside down tax code."


Yeah, thought so.

Wed, 01/29/2014 - 16:05 | 4381197 Emergency Ward
Emergency Ward's picture

Shit let him bring back War Bonds:  Syria No-Fly Zeros, Pacific Pivot Step Ups, Afghan Occupation Inflation Protected.....guaranteed to never go out of favor.

Wed, 01/29/2014 - 16:13 | 4381256 Save_America1st
Save_America1st's picture

All obongo was missing in last night's speech was the Japanese girl band singing to us hypnotically to buy, buy, buy those bonds!

Wed, 01/29/2014 - 16:19 | 4381287 TheAnswerIs42
TheAnswerIs42's picture

Hiya friends! RalphSpoilsport, Ralph Spoilsport Motors- the world’s largest new used and used new car automobile dealership- Ralph Spoilsport Motors- right here in the city of EMPHYSEMA! Let’s just look at the extras on this fabulous car! Wire-wheel spoke fenders and two-way sneeze wind vents, star-studded mud guard, sponge-coated edible steering column, chrome fender dents and factory air conditioned air from our fully factory-equipped air conditioned factory! It’s a beautiful car, friends, with doors to match! Birch’s Blacklist says this car was stolen but for you, friends, a complete price: only two-ninety-five hundred dollars in easy monthly payments of twenty dollars a week, twice a week and never on Sunday!


Wed, 01/29/2014 - 20:32 | 4382534 NoTTD
NoTTD's picture

But does it have two-way-sneeze-through windvents?

Wed, 01/29/2014 - 16:36 | 4381400 Woodhippie
Woodhippie's picture

"so they can save at work just like everyone in this chamber can..."

 Are you fucking kidding me??  Everyone in that chamber is a fucking crook, getting rich everyday by being bought and paid for political hacks that have their own health insurance and golden parachutes.

How the hell can this guy even come close to trying to equate those pondscum maggots with us?

Wed, 01/29/2014 - 16:59 | 4381531 QQQBall
QQQBall's picture

Barry is busy... The Wookie will invest your savings

Wed, 01/29/2014 - 17:38 | 4381739 I Write Code
I Write Code's picture

This is in no way a serious proposal.  It's the kind of trivial effort that Bubba Clinton was famous for, tiny financial deals that test well in a focus group but have no effects at all in the real world.

Wed, 01/29/2014 - 18:13 | 4381885 Random_Robert
Random_Robert's picture

Wait,  let me get this straight-


If the Obama Treasury is guaranteeing a rate of return, then are they not guaranteeing the continued (and constant)  increase in M1 money stock?

I mean, does the Treasury not pay off what it borrows today, with the MOAR that it borrows tomorrow?

Treasury needs to borrow and spend 90$ today, so it sells a $100 bond for 90$

The Bond matures, so Treasury borrows $100 more by selling a $110 dollar bond for $100, pays back the original Bondholder their $100...

Treasury still needs to spend more, so borrowing limit is increased. 

Meanwhile the price of everything that WAS $90 when the bond was issued, is now $110, so your $100 bond that you paid 90 bucks for actually buys you JACK SHIT.

Yeah, this ought to work SWELL.

The financial perpetual motion machine... Are they fucking serious? 


Wed, 01/29/2014 - 20:46 | 4382577 robnume
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Wed, 01/29/2014 - 23:11 | 4382957 rockface
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This is the first step to nationalizing your pension plan and extend food stamps to everybody.

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