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“This hearing was set up to explore why Americans are not saving as much for their retirement as they could,” explained National Seniors Council National Director Robert Crone, describing a recent Treasury-Labor hearing held in the Labor Department’s main auditorium.

Why? WHY? Overtaxation? Printing-induced inflation? Government mandated "health"care? Rampant wasteful government spending like Treasury-Labor hearings that are false faces for discussions about further ways to torment, control and ruin the average American who would like to keep what he earns?

Let me guess. The IRS will be in charge of enforcing this too. "Well, Mr. American, we don't think your health care plan is good enough. We're moving you to a costlier plan (which will offer nothing more than what you're currently paying for). And we don't think you've saved enough for retirement. So, we are directing you to spend $x on your health plan and $x on your retirement plan. And be sure to have your quarterly taxes in on time. We'd hate to impose penalties. Actually, we'd love to impose penalties. So be late if you want. We know where you live. 254 Skid Row, the cardboard box with the green beach towel hanging on one flap for a doorway."

You left out the main “why” reason why “Americans” (certain ones at least) are not saving enough for their retirement -

IRRESPONSIBILITY.