If there wasn't enough to panic about in the United States, give this a try:
To start with, this is not new even though it's being pushed as Obama's plot. The biggest push for it being a possibility was in 2008, before he got in power, as a way to scare Americans into not voting for him even though the idea has been pushed as much by Republicans as Democrats.
The fear talk goes along with the threat that Democrats want to socialize the entire country (Senator George Miller, the proposed bad guy said there is no such idea rolling around).
The Republicans claim that their idea of privatizing Social Security was really about just saving it... supposedly-- by turning its management all over to the corporations or government which we all trust so much.
What do you think? What are the odds this could be done and if you think it could, how would we stop it if it became popular with both parties? Would it require doing this: Dumping 401Ks, paying the taxes now to protect funds. Does somebody want us to think we have to do this to get the market to tank where they can scoop up huge profits?
Then there is this opinion with several links: Government and your IRA and 401K
For those who think this is about Obama, it's from further back as you can find information on it from 2005 or before. It became a huge push in 2008 when Obama was coming in. Some believe this rumor might explain the crash of the stock market.
To be honest, a person's first thought (right or left) is to cash it all in and pay the taxes if one seriously thought the government would take over its management.
The question is would the government (from either party) do such a thing? Would it be the end of all incumbents if they did and then if a new group took over, how exactly would we trust them?
Anyway, what have you heard and what do you think about this possibility-- or not?