Social Security

Obama: Social Security Checks Could Stop, if No Debt Deal

The rhetoric is getting hot and heavy inside the beltway regarding the debt talks. On Tuesday, the Republicans essentially said the Democrats haven't offered a viable debt deal proposal and President Obama said Republican reluctance to compromise could prevent senior citizens from receiving Social Security payments on August 3.

Debt Talks: Obama Open to Social Security, Medicare Cuts

President Barack Obama has shifted his strategy in debt talks with Republicans, offering a substantially larger deficit reduction package that would include cuts to Medicare and Social Security in exchange for eliminating tax breaks.

In Reversal, AARP Backs Social Security Cuts

The American Association of Retired Persons has announced it is open to cutting Social Security benefits, a change of course for the politically influential organization that could bolster efforts for entitlement reform.

Geithner: Cut corporate tax rate substantially

Treasury Secretary Timothy Geithner said on Tuesday that the United States needs to cut the corporate tax rate substantially with a goal in the high 20 percent range, down from the current 35 percent. A day after the White House unveiled a budget that seeks to trim the country's massive deficit, Geithner reiterated that the Obama administration

ID theft in US declined 28 pct last year

The number of identity fraud incidents decreased by more than a quarter in the US last year, recording the lowest levels since 2007, said a survey by Javelin Strategy & Research.

White House proposes unemployment aid for states

President Barack Obama will propose giving financial relief to U.S. states struggling with high unemployment insurance debt, the White House said on Tuesday, hoping that a lifeline now will avoid bailouts later.

S&P downgrades Japan debt rating

Ratings agency Standard & Poor’s has downgraded the sovereign credit rating of Japan, the third-biggest economy in the world, to AA- from AA.

Obama proposes longer spending freeze

President Barack Obama will propose that Congress adopt a 5-year freeze on non-security discretionary spending, extending a previous call for a 3-year freeze, senior administration officials said, according to reports.

Parties go opposite ways on Ryan's roadmap

Speculation is simmering as to what, precisely, President Obama will say in tonight’s State of the Union address. The White House has been speaking in general terms about the speech, resulting in opinions flying about what, if anything, he may actually propose.

Brazil's Rousseff plans payroll tax cuts - report

Brazil's President Dilma Rousseff plans a series of payroll tax cuts in coming years in a bid to promote formal hiring at domestic companies, Folha de S. Paulo newspaper reported on Friday, giving no details of its sources.

64 pct of elderly black Americans face risk of poverty

A new study has found that the risk of elderly black Americans facing poverty was double that of elderly white Americans. It says although 32.7 percent of older white Americans will experience at least one year below the official poverty line, the corresponding percentage for older black Americans was double that at 64.6 percent.

Obama defends tax deal, says long battle averted

President Barack Obama defended his compromise with Republicans on extending tax cuts for wealthier Americans, saying it was urgent to keep millions of Americans from losing unemployment insurance payments.

Obama, Republicans reach deal on taxes

President Barack Obama and Congressional Republicans came to a compromise today involving tax break extensions for wealthier Americans and unemployment insurance extensions for working class families.

Debt reduction plan filled with tough choices

Former Sen. Alan Simpson, R-WY, has a reputation of being frank to the point of being blunt. He did not disappoint today, when expressing what he called the main message from the National Commission on Fiscal Responsibility and Reform.

Debt commission's proposal gets varied reception

Not unexpectedly, the preliminary proposal of President’s Obama’s bipartisan Commission on Fiscal Responsibility and Reform has met with mixed reviews, from “unacceptable” to “most encouraging.”

PersonalFinance: The retirement process

Many workers and financial companies talk about retirement as if it's a day on which everything changes. The day you retire is the day you need X amount in the bank, an annuity, a Social Security check and an old person's portfolio, they suggest. It's the day you're done: with work, with commuting, with consuming and more.