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Obama ally targets 401(k) dollars
Trillions in IRA funds could be forced into U.S. Treasury debt

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Posted: March 26, 2010
1:00 am Eastern


By Jerome R. Corsi
© 2010 WorldNetDaily



President Obama

A key labor union ally of the Obama administration has mounted an effort to create government-mandated worker retirement accounts as an entitlement program, with the possibility that a portion of all private retirement funds could be forced into U.S. Treasury debt.

Branding the program "Retirement USA," the Service Employee International Union, or SEIU, has joined with the AFL-CIO, the Economic Policy Institute, a Washington-based economic left-leaning think tank that receives substantial labor funding and two other left-leaning interest groups, the Pension Rights Center and the National Committee to Preserve Social Security.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=132061