"myRA" Program - Federal Asset Seizure Act?

In the State of the Union Address, Obama proposed creating 'myRA', My Retirement Account, a new government retirement savings plan for first-time savers, who could tap into a new Treasury bond savings program that converts to a traditional Roth IRA. 

Politicians spew out a lot of 'sh*t' to fill public heads - literally.Retirement security for workers without access to workplace retirement savings plans could plan automatic IRA deduction programs through employers. Similar to existing workplace deductions for savings bonds, the proposed 'R Bond' program is aimed at the lower-wage workers discouraged from saving for retirement by minimum deposits and retirement account fees. The bonds would have tax benefits similar to individual retirement accounts, and the balances could be rolled into IRAs when balances reach a sizable amount.

Currently pending in Congress, a government retirement bond is now a default option in legislation sponsored by Rep. Richard Neal, D-Mass., that would create these automatic IRA programs through employers, an idea also discussed by Obama administration officials. While legislative solutions have stalled in Congress, Obama likely will institute the Treasury 'R Bond' program without congressional action through his dictatorial executive-order emergency powers. Still, the Obama 'pen decree' does not have the full force of law until the 'R Bond' is passed by congress.

The obvious negative reaction to the 'My IRA' Program is the perceived inference the Federal government directs private citizens on how, when and where they must begin to start savings for their retirement. This program directs their privately generated monies into Federal Treasury Savings bonds, fully insured, but with notoriously low annual interest rates of 1 1/2% compared to upwards of 26% for the Dow National averages. The maximum contribution is $15,000, which is not even a decent barebones amount for any lasting individual retirement fund. It is another 'smoke and mirrors' political diversionary tactic of sticking a band-aid fix over a growing problem of an aging population--one rife with more people waiting for more 'cradle to grave' government welfare.

The clear implications here indicate a burgeoning 'federal control' of massive private funds into the treasury feeding Washington's insatiable appetite to spend it like the Social Security savings accounts and then leaving more I.O.U. notes at the Fed. 

A History Lesson about Social Security Borrowing: The Social Security surpluses of the past decades were siphoned off to the Treasury Department and spent like a "rainy day savings" from a "personal piggy bank". The Treasury then deposits corresponding IOUs — called “special issue” bonds or "intragovernmental bonds" — into the Social Security trust fund. These supposedly have "real value" since these bogus Treasury bonds are"backed by the full faith and credit of the U.S. government" in the same way that all other U.S. Treasury bonds are regarded. Oh, Really?

FYI: Bill Clinton brags his historic 2001 'balanced budget' was created with budget surpluses during his last three years in office--so it is claimed that Clinton paid down the national debt, that is patently false-he was borrowing  intragovernmental holdings, Social Security trust funds, with accounting transfer entries to balance Clinton's budget. Oh, really?

Retirement experts recognize 'R Bonds' as another default option within automatic IRAs for employers without retirement programs, but raises a question about how much real value a 'voluntary' bond purchase program can accomplish to effect major change in people's habits to save--seems just like the 'millennium age' young people in the 'mandatory' Obamacare insurance sign-up program--also not working too well. 

The best retirement growth strategy is to invest one's savings into a wide portfolio with higher yield investments as it grows in a tax free environment until retirement. Judy Miller, director of retirement policy for the American Society of Pension Professionals & Actuaries. “We're glad that the president is looking to expand coverage. We have been very supportive of the auto-IRA proposal. I don't think (the R Bond idea is) going to really push it forward,” and added, “We disagree that there aren't low-cost options available in the private marketplace now.” 

This new 'mrRA' Federal program funds with private monies instead of taxes, of course in the back end the income taxes are collected. It makes it more politically attractive to promote since there are no upfront tax spending appropriations. So then, why is the bill stalled in Congress? I am sure since Obama brought it up in the State of Union Address it will become "more transparent" as it evolves. Obama said about myRA's, "It's no risk, guaranteed returns." We shall see soon...