As we watch the meltdown of Greece, it is hard to imagine that such a proposal as Guaranteed Retirement Accounts would even be considered by the U.S. government:

"[I]n the Annual Report of the White House Task Force on the Middle Class, Vice President Joseph Biden discussed at length the creation of so-called 'Guaranteed Retirement Accounts, (GRAs)' which would provide for protection from 'inflation and market risk' and potentially 'guarantee a specified real return above the rate of inflation' –presumably at taxpayer expense."

I am looking for additional information on these but the potential effects of such a large-scale, publicly financed program are staggering.  In the event of increased inflation, the (public) debt from such a program would soar.  Interest rates would rise, compounding the negative effects.  The dollar would likely devalue as well, adding a third multiplier to the damage.  What a horrible idea.

Thanks, Caroline.