Federal Reserve Response

Dear Mr. Davis:

Thank you for your most recent correspondence to the Federal Reserve and for
your suggestions about changing the laws that govern the nation’s Social
Security programs.

Because of their expertise, the Chairman and the Governors of the Federal
Reserve Board are often called on to offer their views on issues that lay
outside of the Board’s purview. In the case of the nation’s, Social Security
programs, responsibility for such decisions rests with the Congress and the
Administration and not with the Federal Reserve Board. Given your concerns, you
may wish to write to the congressperson representing your district.

Again, thank you for taking the time to share your views with us.

Sincerely,

JPD
Board Staff
 

Original Email Content:

Referring URL:   http://www.federalreserve.gov/aboutthefed/default.htm

E-mail Content:

Hi,
Our economny needs to create 250,000 to 300,000 jobs each month to sustain a
healthy economic recovery. The President and Congress can act now to make this
happen by changing the laws governing Social Security to allow 9,600 baby
boomers who will be retiring each day over the next 18 years to take partial
distributions of $20,000.00 dollars from their Social Security principle. This
will pump $192,000,000. dollars into our faltering economny each day, (
$20,000.00 x 9,600)creating jobs!!! “Congress, by extending the partial
distribution option, which is required among private pension funds( private
pension plans must present this option, among other options also, at the time
you are thinking of retiring and rolling over your retirement funds), to Social
Security and waiving the taxation on the first 20k withdrawn from a retirement
fund, Social Security included, effectively creates a pool of capital
big enough, to stimulate the economy, creating jobs. Boomers could dump as much
$192,000,000 million dollars into our economy each day, based on the 20k partial
distribution, ( $20,000.00 x 9,600 ) which amounts to approximately 70 billion a
year, AS THEY PURCHASE PRODUCTS, SERVICES AND REDUCE DEBT TO COMFORTABLY RETIRE.
Imagine, that number doubles to $384,000,000 million per day pumped into the
economy if the partial distribution is raised to 40k. Our objective should be to
have Congress enact legislative changes to Social Security to make this
possible. And put our country back to work !!! Go to www.sslumpsum.com for more
information. Let’s start this conversation.