Debt-junkie Americans now can suck the funds out of their 401k's with the swipe of a card. Oh, man, how stupid can people get?

OK, that's it. I give up. We're f*cked. Get ready for BenefitsPANIC. How stupid can people be? When people don't have enough money for retirement in a few years and they look for government bailouts, I hope you remember stories like these.

Thanks EM for the link. You ruined my day.

Just Put It on My 401(k) Debit Card - Borrowing against your nest egg is becoming as easy as stopping at an ATM.

A growing number of companies now offer employees the option of being issued a debit card that taps a 401(k) loan. The card, called ReservePlus, allows workers to withdraw funds from their 401(k)s.

The immediate concern for consumers is that impulse spending desires could trump their long-term savings needs.

Critics contend use of the cards risks depleting already skimpy retirement savings. "Big picture: it just takes us out of the context of a 401(k) loan being a loan of last resort," says Jean Setzfand AARP's Director of Financial Security. "Seeing what we see, with retirement savings not quite where we want to see it, we're just afraid that this is going to deplete it further."