Repeat After Me: "It isn't the Government's Money"

Another story here about the horrors of folks dipping into their 401K's to alleviate short term debt problems. This is not a problem, folks, no matter what the nanny state (or the nanny media) tell us.

Fidelity has 1.4% of its 401K holders with loans....which means, 98.6 % of its customers DO NOT HAVE LOANS AGAINST THEIR 401K's!!!

This money belongs to the people who have saved it. While there are rules against its liquidity, there are provisions for withdrawals and loans specifically because these pools of money are effective hedges against short term debt. What would our reporter have these people do? Go further into debt? Ruin their credit ratings? Silly. They have the money, so they should use it to lighten their debt load.

Stories like this belong in The Onion with headlines like, "Local Man Withdraws Own Money", "Area Woman Makes On-time Mortgage Payment".