January 29, 2014
WE ARE ALL NEOCONOMISTS NOW:
Obama offers new 'MyRA' retirement accounts (Jennifer Liberto, January 29, 2014, CNNMoney)
President Obama on Tuesday offered up a new kind of "starter" retirement accounts aimed at employees of companies that don't offer such plans.Obama is calling them the "MyRA" and said he would, by executive order, direct the Treasury Department to create them.Details were scarce Tuesday night, but employees will be able to contribute part of their wages to the savings accounts, which would be backed by the U.S. government. [...]The Obama administration has been moving to try and promote savings through executive maneuvers. In 2010, Treasury set up a new program to allow Americans to automatically use their tax refunds to buy savings bonds.
Stock funds would be a better option, since the returns are higher, especially given our deflationary epoch.Posted by Orrin Judd at January 29, 2014 1:19 PM
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