2014 State of the Union address: on Social Security

Green Party: ObamaCare sets precedent for market-based social insurance

The same plan may be in the works for Social Security. In his speech, the President announced a new retirement savings program, MyRA. Although the details of MyRa are not clear, it is based on creating individual retirement accounts (IRAs) for workers who don't currently have them.

What we do know is that Social Security has been under attack throughout the President's time in office. Rather than doing what is needed, raising the cap, or going beyond that and raising benefits, there have been attempts to cut benefits and raise the age of eligibility. The public is being told that Social Security is in a crisis but is not being told that this 'crisis' is intentional. Unlike Social Security, IRAs are managed by financial institutions that profit from them. MyRa is another gift to Wall Street by President Obama.

Barack Obama: MyRA: new savings bond for retirement