What's Next?

Dateline Washington D.C. June 3, 2010:



The Democrats regained their filibuster proof majority in the Senate today after Democratic Governor Steve Beshear resigned and was appointed to fill out the term of Republican Sen. Mitch McConnell, who died in a tragic and mysterious home invasion robbery last week; by his successor, Daniel Mongiardo (D), who had formerly been the Lt. Governor.



Dateline Washington D.C. June 12, 2010:



President Obama held a joint press conference today with Senate Majority Leader Harry Reid and Speaker of the House Nancy Pelosi today to announce the introduction of a new bill, the Invest in America and Americans Act.



"For far too long millions of Americans have lacked access to a savings account and financial security", said President Obama. "This bill will fix that, and at the same time allow every American to own a piece of this great country, and help build a better future." "The American people have a right to a savings account, and we will provide them with one!" Sen. Reid proudly proclaimed.



The bill would require every taxpayer to set aside 10% of his gross income every year in savings, in the form of a 25 year Treasury bond issued by the government directly to a savings account in a government approved bank of their choice. Those with no income, or incomes under $50, 000 a year, would be issued a $2,500 dollar savings bond in their name in a similar manner. The savings would be collected by the I.R.S. through deductions from paychecks and on tax forms for other types of income.



"For far too long the poor have been made to feel that they have no part of America," said Speaker Pelosi, "today that has come to an end!"



The bill is expected to be quickly passed by Democratic majorities in both Houses of Congress so that the I.R.S. can begin collecting the savings from income in July of this year.