Andy Stern Wants Your Pension

Andy Stern, the communist thug atop Obama’s favorite union, wants to take over your pension:

One of the nation’s largest labor unions, the Service Employees International Union (SEIU), is promoting a plan that will centralize all retirement plans for American workers, including private 401(k) plans, under one new “retirement system” for the United States.

In effect, government pensions for everyone, not unlike the European system and regardless of personal choice.

The SEIU, which was integral to the election of Barack Obama as president, is working with the left-leaning Economic Policy Institute (EPI), and the National Committee to Preserve Social Security and Medicare, on SEIU’s plan, called “the Retirement USA Initiative.”

Who in the world would trust corrupt and incompetent SEIU goons with the retirement plans of every American?

Andy Stern is the Obama White House’s most frequent visitor. I wonder how often mandatory government/union-controlled pensions for everyone have come up in his chats with the socialist community organizer he helped into office.

But with the economy moribund and massive debt within years of crushing it into a depression, not even Democrats would be irresponsible enough to impose yet another massive unfundable entitlement — would they?

In light of ObamaCare, even the ChiComs are breaking a sweat because they know the answer is yes.

With the uncertainty in today’s global economy, creating a whole new federal entitlement for American workers may not be easy … as America’s creditors are already getting nervous.

Chinese Premier Wen Jinbao is telling U.S. policymakers that he is concerned about the “safety” of his country’s already huge holdings of U.S. debt.

“We have lent a huge amount of money to the United States,” said Wen, according to a report in the Financial Times. “We are concerned about the safety of our assets. To be honest, I am a little worried. I request the U.S. to maintain its good credit, to honor its promises and to guarantee the safety of China’s assets.”

Don’t worry, Cyst, I mean Wen. When Obama and his leftist cronies are through, you’ll hold the deed to the smoldering, bankrupt ruin where America once stood.

On a tip from Cowlove. Hat tip: The Market Ticker. Cross-posted at Moonbattery.

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