Saturday, September 05, 2009
Easier on Everyone??
http://money.cnn.com/2009/09/05/news/economy/Obama_retiremetn/index.htm?postversion=2009090506
This is an article I found that, in a way, echoes Patrick's post earlier this week. Obama announced plans to help change IRS policies regarding saving money. The plan is to set up ways Americans can put unused vacation time into 401Ks. The article lists several more ideas for savings plans that will be put in place. The reason? "Americans have not been good savers in recent decades." The author of the article says that when the recession hit, many people did not have adequate savings. More and more people are borrowing against credit, and digging their debt hole deeper and deeper. Do NOT get me wrong; I think this is a great idea, and makes it easier for people to use money that would otherwise be lost (unused sick leave/vacation time). But the whole reason behind this idea was the fact that Americans were unprepared. The government is, yet again, providing an easy way out for those too lazy to take care of themselves financially.
This is an article I found that, in a way, echoes Patrick's post earlier this week. Obama announced plans to help change IRS policies regarding saving money. The plan is to set up ways Americans can put unused vacation time into 401Ks. The article lists several more ideas for savings plans that will be put in place. The reason? "Americans have not been good savers in recent decades." The author of the article says that when the recession hit, many people did not have adequate savings. More and more people are borrowing against credit, and digging their debt hole deeper and deeper. Do NOT get me wrong; I think this is a great idea, and makes it easier for people to use money that would otherwise be lost (unused sick leave/vacation time). But the whole reason behind this idea was the fact that Americans were unprepared. The government is, yet again, providing an easy way out for those too lazy to take care of themselves financially.
# posted by Life with the Lee's @ 9:25 AM 
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I disagree with you on this. One thing is for sure when you are making money the first thing people do is spend it, can you blame them. Should a person who works very hard, say to themselves "I should save up just incase we go into a recession", no. What people do with their money is their business that's the USA way.
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