By Taylor Armerding
The Hendricks County Flyer
Fri Jan 25, 2013, 03:01 PM EST
There was a clear undercurrent of alarm when a Washington Post story reported that more than a quarter of American workers with 401(k) and other retirement savings accounts were using them to pay for current expenses.
This is draining nearly a quarter of the $293 billion deposited into those accounts every year.
Matt Fellowes, a former researcher for the liberal-leaning Brookings Institution and now chief executive of the financial advisory firm HelloWallet, told the Post that employers who match their workers' contributions, "are dramatically overpaying for retirement, but it is not benefiting the employee."
To which I wonder, why is anybody, especially the left-leaning Post and other liberals, surprised?
I agree that, back in those long-ago days when personal responsibility was considered important, this would have been seen as a very big problem. But now? The ones raiding their retirement accounts are the smart ones. You can count the ways.
First, why shouldn't they spend it? At least they're spending, or borrowing against, money they actually have, unlike our benevolent federal government, which is spending trillions that it doesn't have - borrowing it from China and leaving crippling debt for the coming generations to clean up.
Time and again in his first term, and now going into his second, President Obama has declared that true fiscal responsibility lies basically in just getting a bigger limit on your credit card.
His recent self-righteous declarations on raising the debt ceiling (which he spoke and voted against as a senator) are just the latest absurdity.
Obama slams Republicans for resisting raising the debt ceiling, saying that the U.S. has always been a nation that pays its bills.
That's worth a "Saturday Night Live" skit - which will never happen since SNL wouldn't consider mocking a president not named Bush. And even if they did so, no matter how SNL framed it, they would be accused of using "racist dog whistles."
March 3, 2014
February 27, 2014
February 26, 2014
There was a wide array of reactions to Seattle DB Richard Sherman’s post-game “interview” with Erin Andrews following the Seahawks’ NFC title win over San Francisco.
Mine? Laughter, as the shout-down was the most entertaining thing I saw all day.
January 28, 2014
Butler is still a long way from saving its 2013-14 men’s basketball season, but if the Bulldogs turn it around fully and reach the NCAA Tournament, it will have started this past Saturday at Hinkle Fieldhouse.
January 21, 2014
A fine season for the Indianapolis Colts ended with a whimper Saturday at New England, but in recent team history, it was far from the most disappointing postseason defeat.
January 14, 2014
The Indianapolis Colts’ miraculous 45-44 wild card victory over Kansas City on Saturday ended just after 8 p.m. After leaving Lucas Oil Stadium, it took until around midnight for the pounding in my head to subside.
January 7, 2014
December 31, 2013
An NPR broadcast examines the question of how communities can better prepare for tornadoes like the one that struck Moore, Okla. on Monday. The broadcast features commentary from Michael Fitzgerald, who reported a five-part disaster series for the CNHI News Service.
May 22, 2013
Part I: Are We Prepared? | Part II: Disaster Dollars Part III: Lessons Learned | Part IV: Warning Signs Part V: The Big One
Smartphones need kill switches. It's a relatively easy solution to the pricey (and irritating) problem of smartphone theft. But who would have thought that the big carriers would team up with Apple, Google, Microsoft, Nokia, Samsung and lots of other manufacturers to voluntarily begin adding the technology by July 2015? The cooperative spirit! It makes so much sense!
April 18, 2014
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