The dangers of Obama’s ‘MyRA’ scam

President Obama introduced several new government programs during Tuesday’s State of the Union address, and one involved the federal government taking over your retirement account. According to President Obama, the ‘MyRA’ account would “guarantee a decent return with no risk of losing what you put it.” Sounds too good to be true, right? Well, that’s because it is.

Glenn opened the radio program this morning by reading an excerpt from a great post on Zero Hedge by Simon Black of Sovereign Man blog that sums up the program laid out by President Obama on Tuesday:

I have an old acquaintance named Sam who has a hell of a deal for you.

Sam is actually a pretty famous guy with a big reputation. Unfortunately he has been a bit down and out on his luck lately… but he’s trying to make a comeback. And Sam is prepared to float you a really great investment opportunity.

Here’s the deal he’s offering: you give Sam your hard-earned retirement savings. Sam will invest your funds, and pay you a rate of return.

Granted, the rate of return he’s promising doesn’t quite keep up with inflation. So you will be losing some money. But don’t dwell on that too much.

And, rather than invest your funds in productive assets, Sam is going to blow it all on new cars and flat screen TVs. So when it comes time to make interest payments, Sam won’t have any money left.

But don’t worry, he still has that good ole’ credibility. So even though his financial situation gets worse by the year, Sam will just go back out there and borrow more money from other people to pay you back.

Of course, he will be able to keep doing this forever without any consequences whatsoever.

I know what you’re thinking– “where do I sign??” I know, right? It’s the deal of the lifetime.

This is basically the offer that the President of the United States floated last night…

Read the entire post HERE.

“It's a great article from Zero Hedge, and not a lot of people are talking about this. During the State of the Union address, our president looked our people straight in the face and he said we're going to give you a decent return with no risk of losing what you put in. Mr. President, I don't think I'm going to take or recommend [that] to anybody,” Glenn said. “What they're going to do is you will sign over your IRA And then the government is going to use all of that money to pay the bills and pay for things that we can't afford. But don't worry.”

President Obama laid out the following plan in Tuesday’s State of the Union:

OBAMA: Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401ks. That’s why, tomorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: MyRA. It’s a new savings bond that encourages folks to build a nest egg. MyRA guarantees a decent return with no risk of losing what you put in. And if this Congress wants to help, work with me to fix an upside-down tax code that gives big tax breaks to help the wealthy save, but does little to nothing for middle-class Americans. Offer every American access to an automatic IRA on the job, so they can save at work just like everyone in this chamber can...

While President Obama tried to see the plan as a safe and secure bet for our nation’s retired population, the introduction of the MyRA essentially confirms the notion that the U.S. government can longer find anyone to lend them money.

“Well, okay, we can't get China to invest anymore, but it's not like we can't get Japan… Okay, we can't get Japan to invest anymore,” Glenn joked. “It's not like we can't sell our treasury bonds anymore to the world. Okay, we can't actually sell our treasury bonds to the world anymore, but we have the Fed. The Fed already owns, what is it, $4 trillion of our debt… If the Fed loses that $4 trillion, don't worry. I mean their balance sheet isn't all upside down.”

Regardless of how this program shakes out, Glenn was confident the Obama Administration will enjoy the support of organizations like the AARP, which may very well allow this giant ponzi scheme to get off the ground.

“You watch – AARP will be at the lead of this,” Glenn concluded. “You know what? This is a good idea. Why? Because the elites will be the ones that will benefit from your money. And you will be left penniless. It's like saying, ‘Is that you, Bob?’ ‘Yeah, it's me. I'm Bob. I got a bank. I'll put my money in my pocket. Thanks for going to Bob's bank.’ Nobody would do it. Wise up, America! Wise up!”

Front page image courtesy of the AP

On the radio program this week, Glenn Beck and Pat Gray discussed a series of recent polls that suggest presidential nominee Joe Biden's expected lead may be slipping with traditionally Democratic voters.

A new poll conducted by the Jewish Electorate Institute shows that two-thirds of Jewish voters still plan to vote for the Biden-Harris ticket in November. However, President Donald Trump's support within the Jewish community is also the highest among any Republican candidate in recent history.

In more bad news for Biden, a CNN poll (yes, CNN) released last month showed growing support for President Trump among black voters in swing states. Meanwhile, his support among Latino voters remains at roughly 33%.

"I don't think it's going to go the way the Democrats hope that it will," Glenn said of the election. "If you look at the groups that the Democrats have carefully fostered ... that's falling apart. If Donald Trump can grow that by 5%, and hurt the Democrats by 5% ... that alone could swing the election."

Watch the video below to catch more of the conversation:

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We're being set up for a civil war. The Left is grooming us for an Eastern European-style revolution this election, and they're not even trying to hide it any more. The playbook for Mainstreet USA is the exact same that has been used in places like Ukraine, initiated by the same people in order to completely upend the American system.

On his Wednesday night special this week, Glenn Beck takes us through a tale of three chalkboards that will connect the dots: the Obama admin in Ukraine, the State Department's relationship with George Soros, Black Lives Matter and Antifa riots, the Great Reset, public school indoctrination, mail-in voting. It all points to something dangerous happening in November if we don't act now.

Watch the full video below:


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The left has already determined that the wildfires raging across the West Coast were definitely caused by climate change and Big Tech is determined to silence anyone who dares suggest otherwise. Facebook even announced a sweeping policy on Saturday to remove posts that claim the fires were caused by arson from far-left activists.

But on his radio program Wednesday, Glenn Beck revealed multiple arrest records for suspected arsonists in California, Oregon, and Washington — and several of those charged and arrested were also instigators in Black Lives Matter rallies, violent protests, and Antifa riots. He also called out the "news gods" in Big Tech, daring them to try to censor his video.

"I asked my staff, to see if there was any evidence [of arson] on the fires. And I don't mean evidence from Twitter. I mean evidence. Is there anybody who has been arrested for arson?" Glenn said. "Well, here they are. And YouTube and Facebook, go ahead. I want you to demonetize this clip. I want you to somehow or another say that we're lying. I want you to throttle this. Go ahead. Because then you're going to have to explain what we got wrong. And I happen to have all the documents right here. So my attorney is really ready for that throttling or demonetization. You say you're a protector of the truth? Great, here it is."

Glenn read off the first 10 arrest records, which combined allege the destruction of more than 120,000 acres and 700 structures, as well as tens of thousands of people evacuated from their homes.

"You want to tell us, PolitiFact, how you came to the conclusion ... that there was no arson in these fires?" Glenn asked. "Can you tell me how you came to that conclusion? Because your fact-check seems to be entirely false."

Watch the video below for more details:


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Former White House press secretary Sarah Huckabee Sanders joined Glenn Beck on this week's podcast to share her unique perspective as a trusted adviser and confidante to President Donald Trump for two and a half years, which she also details in her new book, "Speaking for Myself: Faith, Freedom, and the Fight of Our Lives Inside the Trump White House."

Sarah described the unprecedented levels of corruption she saw firsthand during the Russia probe and shocking lengths to which Democratic leaders and the mainstream media would go to "take the president down."

Sarah said she often saw sides of Donald Trump that the media never covered. Recently, she went on the record denying the Atlantic's claims that the president mocked our military during a 2018 trip to France. She was on that trip, she told Glenn, and her account of what really happened paints a very different picture.

"The people who are making this outrageous charge are such cowards for doing so in an anonymous way. If you really believed this, and believed it was wrong, one, why did it take you so long? And, two, put your name on it the way the rest of us have," Sarah said.

"He didn't say those things. Not only was I there that day, Glenn, I spent two and a half years traveling all over the world with the president, watching him interact with men and women of our armed forces almost every single day during that two-and-a-half year period," she added.

"This is a person who loves America and loves the people who allow the rest of us to live in America, free, and have prosperity. And I got to see that a lot. I think it is shameful that people are trying to distort who he is and what he has done, particularly when it comes to the men and women in the military."

Watch a clip from the full interview with Sarah Huckabee Sanders below:

Find the full podcast below, on Glenn's YouTube channel or on Blaze Media's podcast network.


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