State of the Union 2014

[Admiral Yi]

My shallow and potentially incorrect understanding of the MyRA thing is not that it's a new kind of high-performing yet risk free bond or some such. Rather, it's to provide something similar to a 401K plan for people whose employers do not set up or otherwise provide such a plan.

Does that understanding make sense? And if it makes sense, is it a reasonable initiative?

Yes, that would be a reasonable initiative.  Right now people without a 401k have no way to make regular payments to an investment vehicle with a tax benefit (AFAIK).

Still doesn't explain the "decent return/no risk" part.

[Jacob]

Yes, that would be a reasonable initiative.  Right now people without a 401k have no way to make regular payments to an investment vehicle with a tax benefit (AFAIK).

Still doesn't explain the "decent return/no risk" part.

I'm guessing - and this is purely guesswork at something that would make sense to me in explaining such a comment - that MyRA plans, or at least certain parts of them, will be underwritten by the government. I.e. something like there'll be a framework that the investments have to follow (to avoid high or even medium risk investments), and as long as that framework is followed if they fail to bring a certain minimal return, the government will make up the difference. So - if your MyRA investments make less than 4% return in any given year, the gov't will top it up until it does.

This, of course, subject to maximum contributions and whatever regulations. So essentially a variable giveaway, to encourage people to save for their pensions.

[Jacob]

Was there anything about dissolving the legislature?  Fear keeping the local systems in line?

No, but he had a good applause line paying tribute to Boehner, which was pretty funny.

[Ideologue]

I've never heard his name said aloud.  Is it actually "Boner"?

[Eddie Teach]

Bay-ner is what I've heard.

[Admiral Yi]

I'm guessing - and this is purely guesswork at something that would make sense to me in explaining such a comment - that MyRA plans, or at least certain parts of them, will be underwritten by the government. I.e. something like there'll be a framework that the investments have to follow (to avoid high or even medium risk investments), and as long as that framework is followed if they fail to bring a certain minimal return, the government will make up the difference. So - if your MyRA investments make less than 4% return in any given year, the gov't will top it up until it does.

Ruh-roh.

[Ideologue]

Bay-ner is what I've heard.

Ah.  Maybe I have heard aloud and didn't realize it.

[jimmy olsen]

Full text for anyone who wants to go over it line by line.

Nerds!
http://www.cbsnews.com/news/obamas-2014-state-of-the-union-address-full-text/

[KRonn]

We produce more oil than we import.  That's just super.  Ravaging our environment and depleting our natural reserves while extending the world's, and still not a single improvement in our refining capability.

Suckers.

That was my thought too  since the US isn't likely building new refineries, but there was a news item last week or so that said refineries have been increasing capacity over the past few years, due to more domestic oil and also for the possibility of the Keystone pipeline coming in.

[Sheilbh]

Secretary of Energy.  12th in succession.

And what a President he'd be, single-handedly bringing back the powdered wig look:

[jimmy olsen]

Secretary of Energy.  12th in succession.

And what a President he'd be, single-handedly bringing back the powdered wig look:

It really should be in the law that one of the top 4 cabinet officials has to be chosen.

Secretary of State    
Secretary of the Treasury
Secretary of Defense    
Attorney General

[derspiess]

Secretary of Energy is a pretty powerful position, Tim.

[Ed Anger]

Secretary of Energy is a pretty powerful position, Tim.

He checks every lightbulb.

[Ideologue]

The Secretary of Energy controls the nukes.

[Ed Anger]

The Secretary of Energy controls the nukes.

And all those delicious Energon cubes.