When adding in all of the money owed to cover future liabilities in entitlement programs the US is actually in worse financial shape than Greece and other debt-laden European countries, Pimco’s Bill Gross told CNBC Monday.
As a general rule, Cabinet secretaries don’t often speak to reporters on camera at stakeouts, so imagine the glee when a group waiting outside Treasury Sec. Tim Geithner’s hour-long, closed-door meeting with House GOP freshmen were told the administration’s top money guy would be appearing before us to give remarks.
An upstate Democrat won a Republican congressional seat Tuesday night in one of the state’s most conservative districts that some saw as a referendum on the GOP’s plan to rejigger Medicare.
White House hopeful Newt Gingrich called the House Republican plan for Medicare “right-wing social engineering,” injecting a discordant GOP voice into the party’s efforts to reshape both entitlements and the broader budget debate.
Social Security will run a permanent yearly deficit when looking at the program’s tax revenues compared to what it must pay out in benefits, the program’s trustees said Friday in a report that found both the outlook for Social Security and Medicare, the two major federal social safety-net programs, have worsened over the last year.
The doctor is not in.
By Dennis Cauchon, USA TODAY | 4/26/2011 Americans depended more on government assistance in 2010 than at any other time in the nation’s history, a USA TODAY analysis of federal data finds. The trend shows few signs of easing, even though the economic recovery is nearly 2 years old. A record 18.3% of the nation’s [...]
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