Beneficiaries of the Social Security Disability Insurance (SSDI) program can expect to see their checks cut to 79 percent by 2016, according to the program's trustees.
Best known as the co-author, along with Nobel Prize winning economist Milton Freidman, of A Monetary History of the United States, 1867-1960, Anna Jacobson Schwartz died on Thursday, June 21, in New York City at age 96.
A brilliant economist in her own right, she provided the background, the research and so much of the thinking behind the 859-page A Monetary History that Friedman claimed that “Anna did all the work, and I got most of the recognition.”
A week ago both Mississippi Republican senators, Thad Cochran and Roger Wicker, announced their support of S.B. 2205 — the Second Amendment Sovereignty Act of 2012 — that would allegedly protect American citizens from any abrogation of their Second Amendment rights if the UN Arms Trade Treaty was signed by Secretary of State Hillary Clinton in July. That makes a total of 17 senators who are supporting the bill.
With the help of 14 writers and seven contributors and researchers, Glenn Beck has burst forth with another book that expresses his unique style: fulminating, ranting, exploding, rollicking, sardonic, eclectic, and intemperate. Beck and friends have written 11 best sellers and seven of them have reached the #1 position on the New York Times best seller list. Cowards will no doubt be number eight.
The President's speech on the economy in Cleveland last week, promoted as "important," was a bust, especially among his most ardent supporters.
Following the announcement last Thursday by Senator Rand Paul that he was endorsing former Massachusetts Governor Mitt Romney as the Republican Party’s nominee for President, he took time to respond to critics of that decision in an interview with Peter Schiff.
On Tuesday the Treasury Department announced that in May the federal government received tax revenues of $180.7 billion, the second highest for the month of May in history. Unfortunately, the government spent $305.3 billion, leaving a deficit of $124.6 billion. So far this year, deficits are at $844.5 billion and are on track to exceed $1 trillion for the fiscal year, the fourth year in a row.
Doing the math, the national debt is growing at a rate of more than $3 billion per day, or about $565 per household every month. At that rate the national debt will hit the debt ceiling of $16.4 trillion just a few days after the November election.
Illinois State Senator Chris Lauzen made three simple suggestions to solving Illinois’ $83 billion unfunded pension liabilities: end abuses of the present system, raise the retirement age to 62, and limit cost-of-living-adjustments (COLAs) to 2 percent a year. What he failed to mention is how to get these changes implemented.
The release last week of the Federal Reserve’s much-anticipated three-year study of America’s finances, its Survey of Consumer Finances, confirmed what many families already know: Between 2007 and 2010 the average family’s net worth declined by nearly 40 percent, mostly because of the decline in housing prices. The Fed study also confirmed that their incomes also fell significantly in real terms, by nearly eight percent.
Wayne Allyn Root, former Las Vegas odds maker, reiterated his prediction from last December that Romney would win big in November.