Monday, November 10, 2008

The Obama Genie Is Out Of The Bottle

Instead of granting you seven wishes, the Obama Genie will make you grant him at least seven ways of taking your money.

Watch out out for Obama and the Democrats witchery. They will be looking for even more creative ways to pay for their programs like. . . From CNBC: "Under Teresa Ghilarducci's - from the New School for Social Research in New York plan - workers would receive a annual $600 tax refund if they set aside 5 percent of their pay into a retirement account run by the Social Security Administration, which would then invest globally in risky assets to seek high returns. From that pool, workers would be paid a guaranteed 3 percent a year indexed to inflation."

Richard Fisher, President of Dallas Federal Reserve Bank: "Unfunded liabilities from Medicare and Social Security, come to $99.2 trillion over the infinite horizon. Traditional Medicare composes about 69 percent, the new drug benefit roughly 17 percent and Social Security the remaining 14 percent of U.S. Debt."