Comments on: What McCain is Doing Wrong http://blog.oup.com/2008/10/mccain/ Academic insights for the thinking world. Fri, 10 Feb 2012 15:14:32 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: dave08836 http://blog.oup.com/2008/10/mccain/comment-page-1/#comment-147589 dave08836 Tue, 14 Oct 2008 01:05:48 +0000 http://blog.oup.com/?p=2189#comment-147589 Obama proposed today allowing people to withdraw up to $10,000 from their retirement accounts without any penalty for the remainder of the year and 2009. It is totally irresponsible for a leader to even suggest pulling money out of your 401K, especially at a time like this: 1) If people pull money out of their 401K now they take real losses. 2) Senator Obama's proposal sends a “panic message” to Main Street to not to trust the financial systems. Someone needs to tell Senator Obama to think of the consequences to both Main Street and Wall Street if everyone took $10,000 out of their 401K. Obama proposed today allowing people to withdraw up to $10,000 from their retirement accounts without any penalty for the remainder of the year and 2009.

It is totally irresponsible for a leader to even suggest pulling money out of your 401K, especially at a time like this:

1) If people pull money out of their 401K now they take real losses.
2) Senator Obama’s proposal sends a “panic message” to Main Street to not to trust the financial systems.

Someone needs to tell Senator Obama to think of the consequences to both Main Street and Wall Street if everyone took $10,000 out of their 401K.

]]>