Point Counter Point: Weekly Address

The Provocateur ^ | 09/05/2009 | Mike Volpe

[fiscon1]

Let's call this particular weekly address, "Obama the Disingenuous". President Obama once again talked about how our economy was built on spending rather than saving. This is true. He also threw out a couple of minor if not decent ideas to help savings. He wants to create a way to automatically allow someone to move their tax refund into a savings bond for instance. That's fine. He wants to allow people to automatically move their unused vacations and sick days into their 401k's. That's fine, though most good savers already max out their 401k's and the others will need that money for other things. He wants to make it easier for small businesss to create 401k's though he didn't specify that.

[ex-snook]

Maybe if the interest rate was better and the value of your savings was not inflated away, more people would save.

[Mr_Moonlight]

What’s a Savings Bond pay nowadays? 1.5%, maybe 2% ?? Sorry man, my credit union is still returning 4%, and I can get a loan from it at 6% or less, easily. Thanks, but no thanks.