Jim Galloway has come up with a brilliant test for whom to listen to regarding government finance. The setting is a disagreement between Newt Gingrich and Senator Johnny Isakson on how to address the “Fiscal Cliff”.
[W]e’ve devised a foolproof test to help you decide which one.
More than likely, you have a 401(k) account. It isn’t as large as you’d like, but you’ve been diligent and it represents a sizable amount of cash.
Now, imagine yourself in a room that’s empty except for a table, the former U.S. House speaker, and Georgia’s junior U.S. senator. You must sign over control of your retirement fund – all the money that will let you retire at 65 rather than 85 – to one of these gentlemen for the next eight weeks. Which one will it be?
Pick your man, and you’ve just decided whether the fiscal cliff is real or not. Because for small fry like you and me, our 401(k) funds are the chips in this very real game of poker.