Budget Battles
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Johnson Defies Hardliners, Pushes Ahead With Foreign Aid Plan
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Facing Right-Wing Revolt, Johnson Says He Won't Resign
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Johnson Unveils Plan for Israel, Ukraine Aid
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Trump Throws Johnson a Lifeline: ‘He’s Doing a Very Good Job’
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Biden’s New Student Debt Relief Plan Would Cost $84 Billion: Analysis
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House Conservatives Deal a New Blow to Johnson
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Marjorie Taylor Greene Fires Another Warning Shot at Johnson
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BlackRock CEO Warns of a Retirement Crisis
Larry Fink, the billionaire chairman and CEO of investing giant BlackRock, warns in a newly published annual letter to shareholders that it’s time to rethink retirement savings in aging countries...
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House Republican Caucus Calls for Raising the Social Security Retirement Age
By Michael RaineyThe Republican Study Committee, the largest conservative caucus in the House, released on Wednesday a 2025 budget proposal that would slash healthcare spending, raise the Social Security retirement...
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Biden Proposes a $7.3 Trillion Budget for 2025
President Biden on Monday proposed a $7.3 trillion budget for fiscal year 2025 that seeks to lower the costs of prescription drugs, child care and housing while also cutting the deficit by $3...
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House Budget Committee Approves Bill to Create Bipartisan Fiscal Commission
The House Budget Committee on Thursday approved a landmark bill to create a bipartisan fiscal commission that would make recommendations on how to address the rising national debt. The commission has...
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Romney and Manchin Call for Commission to Stabilize US Debt
By Michael RaineySens. Mitt Romney of Utah and Joe Manchin of West Virginia introduced a bill Thursday that would create a commission tasked with stabilizing the national debt. Warning that the nation’s finances are...
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US Retirement System Gets a C+
By Michael RaineyWith a mix of mandatory public and private pension programs, the Netherlands has the world’s best retirement system, according to a new ranking from the consulting firm Mercer. The European nation...
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Rising Income Inequality Hurts Social Security, Expert Says
By Michael RaineySocial Security faces a crisis in 2034, when its main trust fund is projected to become insolvent, potentially resulting in significant cuts in benefits. Simple demographics play a major role in the...
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GOP Candidates Clash Over Government Spending, Entitlements
Although the opening exchanges of last night’s Republican presidential primary debate aren’t making many highlight reels and recaps, they showed the candidates trying to establish their fiscally...
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Social Security Benefits Could Be Cut by $17,400 a Year When Trust Fund Runs Dry
By Michael RaineyA typical retired couple could face a loss of $17,400 in their annual Social Security benefits in 2033, when the retirement program’s main trust fund is projected to run dry. That estimate comes from...
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Biden Taps a New Social Security Administration Chief
President Biden announced Wednesday that he intends to nominate former Maryland governor Martin O’Malley to head the Social Security Administration. “Since Day 1 I have fought to strengthen and...
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Dems Look to Score Points Using Rick Scott’s Agenda for the GOP
Back in February, Florida Republican Sen. Rick Scott released a 11-point policy agenda for the GOP that stirred some controversy by, among other things, calling for all Americans to have some “skin...
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Is It Time to Raise the Social Security Tax Wage Cap?
By Michael RaineyAmericans earning $1 million hit a milestone today: After February 23, anyone with an annual income at or above that level has hit the payroll tax cap and paid all of their Social Security taxes for...
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Social Security Benefits Will See Biggest Boost in Nearly 40 Years
By Michael RaineySocial Security benefits will increase by 5.9% in 2022, the largest increase since 1982, the Social Security Administration announced Wednesday. “This would be the highest COLA that most...
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Social Security Trust Fund to Run Out by 2034, Report Says
Social Security won’t be able to pay full benefits by 2034, one year earlier than projected last year, unless Congress acts to address the program’s finances, according the annual report released...
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Why Biden Fired the Head of the Social Security Administration
President Joe Biden on Friday fired Social Security Administration Commissioner Andrew Saul, a Trump appointee who had drawn criticism from Democrats and advocacy groups for seeking to restrict...