MyIRA is just a defective version of the self-directed IRA that is already available to all who bother to open one. MyIra is defective because it mandates putting assets in a lousy investment — the USG. A self-directed IRA can invest in stocks, bonds, gold, etc., including foreign assets. Of course, if an IRA investor is a true believer, there is nothing (except his natural acquisitiveness) to stop him from using his IRA to emulate a MyIRA. But that would impoverish the investor and deprive the Won of a talking point.
IOW, Zero needed an extra bullet point for his 2014 SOTU, and MyIRA was it.
IRAs and 401Ks and their ilk should not exist. The tax rate should be such that they are not necessary.
bkmk