As if Social Security was not bad enough, in his state of the union address, Obama proposed a new plan to “help Americans save for retirement.” It is called “MyRA.” It is “a new savings bond that encourages folks to build a nest egg.” It “guarantees a decent return with no risk of losing what you put in.” That means that the taxpayers will bail out the system when it doesn’t achieve a decent return. Funny, I thought we already had U.S. Savings Bonds? On Social Security, see my Social Insecurity.

The Best of Laurence M. Vance