The White House says automatic budget cuts known as the sequester may soon hit some families’ budgets hard.
What will happen to Social Security if the country defaults? One answer: “We don’t really know for sure. We’ve never done this before and I hope we don’t,” says Timothy McBride associate dean for public health at Washington University in St. Louis, and one of the nation’s experts on Social Security and Medicare. McBride thinks
Whatever Congress decides to do about the current deficit situation, Sallie Krawcheck, president of global wealth and investment management at Bank of America, has these five suggestions for people living on retirement income and for anyone doing retirement planning. Consider investing in the stocks of high-quality companies with market values of $20 billion or more.
There have been 101 reader comments so far on the retirement planning blog that I wrote last week about Congress considering ways to reduce the tax deductions associated with 40(k)s and other tax-advantaged retirement savings plans in order to reduce the deficit. Most of the people who posted have similar opinions: They want Congress to
Last December as Congress was debating what to do about expiring tax laws, a CBS News poll found that 73 percent of Americans believed the budget deficit was a very serious problem. How did more than half of those surveyed suggest reducing the deficit? By letting the Bush-era tax cuts for those in the higher
It was hard to believe the day had come when Moammar Gadhafi wasn’t the nuttiest creature on nightly news. ”All my people love me,” the Libyan madman proclaimed, conveniently ignoring a great deal of contradictory evidence. But his show was stolen by another showman: Charlie Sheen. He produced not one, but two live-in girlfriends as
The ice and snow that this week blanketed two-thirds of the Lone Star State (we got 3/4 of one inch overnight here in usually moderate Austin) tried to upstage Dallas’ big event, but the football gods intervened. The storm system has moved eastward and it looks like Super Bowl XLV will go on without weather worries. Of
President Barack Obama seemed almost like a man obsessed during his State of the Union address. “We do big things,” he told the nation and the world. It was reminiscent of the morning-in-America optimism of President Ronald Reagan. Reagan, of course, was equally oratorically gifted. And coincidentally, he also spent his freshman and sophomore years
Over the past couple of years, individuals and businesses have focused on deleveraging by cutting spending and paying off debt. The recession scared us all into trying to restore balance to our balance sheets. It’s the responsible thing to do. Extending the Bush-era tax cuts for another two years — cuts which were never paid
The National Commission on Fiscal Responsibility and Reform, the bi-partisan commission charged with identifying policies to balance the budget, released its initial report today and took aim at Social Security. Obviously, this is just the beginning of the discussion. However, any possible outcome is almost certain to have both an immediate and a long-term impact on