The National Seniors Council (NSC) republished the following article (“Obama Begins Push for New National Retirement System”) after President Obama’s recent reelection:
“A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans.
“The hearing, held in the Labor Department’s main auditorium, was monitored by NSC staff and featured . . . one representative of the AFL-CIO who advocated for more government regulation over private retirement accounts and even the establishment of government-sponsored annuities to take the place of 401k plans.”