Headlines
China Expands Social Security Fund Investments to Local Government Debt
New measures are meant to diversify risk while increasing returns China’s State Council, or cabinet, announced measures on Wednesday to boost returns at the nation’s social-security fund, expanding its investment scope to include local-government bonds and other financial instruments. The new…
Report: Obama Supports Military Retirement Pay Cuts
President Barack Obama said Monday that he supports the idea of reducing military retirement pay by about 20 percent. According to the Washington Times, Obama wrote a letter to congressional leaders saying he favors the recommendations put forth by a military commission. Under…
Delaney: Bipartisan plan to save Social Security introduced
With Social Security trust funds predicted to run out in less than 20 years, legislators from the Democrat and Republican parties have introduced legislation to delve into the problem and offer solutions — importantly, the legislation would require an eventual…
What Exactly Congress Is Spending Your Dollars On
Let’s say you were a financial adviser, and a family came to you with the following situation. They make the median family income in the United States—$52,000. But last year they spent $61,000. That’s right, $9,000 more than they’re making, and it all…
Funding shortfalls put pensions in peril
These days, a pension just isn’t what it used to be. For generations, a defined benefit pension — a fixed monthly check for life — provided an ironclad promise of a secure income for millions of retired American workers. But today,…
Could these policy fixes help you save for retirement?
Despite the challenges many Americans face in setting aside enough money to finance their golden years, experts say the retirement system is not a lost cause. But a few improvements—many already in the works—could make a big difference for savers. It’s…
House OKs bipartisan Medicare doctor bill; fate up to Senate
In uncommon bipartisan harmony, the House approved a $214 billion bill on Thursday permanently blocking physician Medicare cuts, moving Congress closer to resolving a problem that has plagued it for years. The lopsided 392-37 vote shifted pressure onto the Senate, where…
The Lie behind Social Security
Social Security is in trouble. We all know this, or should. But there is a cheat within the system, and it is time the cheat was brought into the full light of day. In short, Democrat lawmakers — and Republicans who have remained…
Senators block Social Security amendment to budget
Senators on Tuesday blocked an amendment from Senate Democrats aimed at protecting Social Security. Senators voted 51-48 on a procedural motion, after Democrats tried to override the decision of Sen. Mike Enzi’s (R-Wyo.), the chairman of the Budget Committee, to…
Conservative House Republican budget would cut $7.1T
A conservative budget released by the House Republican Study Committee (RSC) on Monday would balance in five years by cutting $7.1 trillion in spending over the next decade. The cuts are much more than the $5.5 trillion in proposed cuts included in the…