Budget Battles
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Senate Advances $95 Billion Foreign Aid Package
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GOP Infighting Continues as Senate Heads for Aid Vote
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News Alert: House Approves $95 Billion Aid Package for Ukraine, Israel and Taiwan
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Dems Help Save Johnson's Aid Package for Israel, Ukraine
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Johnson Rejects a Plan to Save His Speakership
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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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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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A Look at America’s ‘Broken Retirement System’
By Michael RaineyMillions of baby boomers are discovering that getting older isn’t getting any easier, thanks in part to a retirement system that fails to deliver security for millions of Americans. “Every day, 10,...
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How the Coronavirus Could Damage Social Security
By Michael RaineyThe trustees for Social Security say the program’s long-term outlook for hasn’t changed much in the last year – but that’s ignoring any potential negative effects from the coronavirus. The latest...
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Biden, Sanders Clash Again Over Social Security
The most heated moments in Sunday night’s Democratic presidential primary debate came during an exchange between Joe Biden and Bernie Sanders over Social Security. For months now, Sanders has slammed...
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Trump’s Coronavirus Tax Cut Falls Flat on Capitol Hill
President Trump promised Monday evening that his administration would quickly announce “very major,” very “substantial” and “dramatic” steps to boost the economy in the face of the coronavirus threat...
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Sanders Releases Funding Options for His Big Plans
By Michael RaineyFacing questions about how he intends to pay for an ambitious policy agenda that includes single-payer health care, student debt cancellation and an expansion of Social Security, Vermont Sen. Bernie...