Social Security News 6-22-12

CNBC (NAT)

Video -Sen. Gregg on Simpson-Bowles 2.0 Plan

06-22-12

Former Sen. Judd Gregg, (R-NH), explains why he believes there is still time for Congress to work out a bipartisan plan on the budget deficit and avoid the fiscal cliff.

http://video.cnbc.com/gallery/?video=3000097269

Wall Street Journal (NAT)

Video - Time for Bowles, Simpson to Reunite

06-22-12

Staff

In the ongoing discussion about the economy, the Fiscal Commission's recommendations are being largely ignored. WSJ's David Wessel says the chairmen, Erskine Bowles and Alan Simpson, need a publicity tour to hammer home their recommendations.

http://live.wsj.com/video/time-for-bowles-simpson-to-reunite/505D6D62-6E49-4B7B-A03D-F3A71AC321E5.html

Associated Press (NAT)

University of Calif. faces mounting pension costs

06-19-12

Terence Chea

The cost of pensions and retiree health benefits are soaring at the University of California, increasing pressure to raise tuition and cut academic programs at one of the nation's leading public college systems.

http://www.businessweek.com/ap/2012-06-19/university-of-calif-dot-faces-mounting-pension-costs

The Atlantic (NAT)

Business Half of Current Workers Won't Be Able to Retire at 65

06-21-12

Jordan Weissmann

For all the trauma your 401K has probably suffered over the past few years, here's a bit of news to take heart in: According to researchers at Boston College, most Americans are only going to have to work a few extra years to make it to retirement.

http://www.theatlantic.com/business/archive/2012/06/half-of-current-workers-wont-be-able-to-retire-at-65/258823/

Bloomberg (NAT)

Should the Federal Government Be More Like Wawa?

06-21-12

But the federal government mostly moves a lot of money around. For example, 98 percent of spending on Social Security is actually going out as benefits. You can change Social Security’s finances a lot by changing benefit formulas and tax rates, but the program is already very efficient.

http://www.bloomberg.com/news/2012-06-21/should-the-federal-government-be-more-like-wawa-.html

Boston (NAT)

Age 65 and still working? What to do about Medicare

06-21-12

Cheryl Costa

06-22-12

Many, many people are now working past the "usual" retirement age of 65. If you are one of these people but you have also reached your full retirement age (FRA) and want to begin receiving Social

http://articles.boston.com/2012-06-21/business/32354499_1_retirement-age-medicare-social-security-benefits

CBS News (NAT)

How much longer do you need to delay retirement?

06-22-12

Steve Vernon

For households headed by someone age 65, 49 percent of today's working households will have sufficient assets to retire and maintain their standard of living in retirement. The percentage of people who can afford to retire increases to 86 percent if they wait until age 70 to retire, leading the CRR to conclude that the vast majority of households will be ready to retire by age 70.

http://www.cbsnews.com/8301-505146_162-57457766/how-much-longer-do-you-need-to-delay-retirement/

Huffington Post (NAT)

Why Our Declining Safety Net?

06-21-12

Harlan Green

We know when the current worries began over baby boomers retirement impacting social security and Medicare began. It's told in The Price of Loyalty, Bush Treasury Secretary Paul O'Neill's book with Ron Suskind. Bush and Karl Rove decided to use the four years of Bill Clinton's budget surpluses to fund tax cuts and the two wars G.W. and Dick Cheney were planning, instead of protecting social security and Medicare.http://www.huffingtonpost.com/harlan-green/why-our-declining-safety-_b_1612354.html

Reno Gazette-Journal (NV)

Social Security - how to plan for it before retirement

06-22-12

Heidi Foster

If you start benefits early, they will be reduced based on the number of months before you reach your full retirement age of 66. The reduction of your benefits at age 62 is 25 percent; at age 63, it is about 20 percent; at age 64, it is about 13.3 percent; and at age 65, it is about 6.7 percent.

http://www.rgj.com/article/20120622/COL0813/306220023/Heidi-Foster-Social-Security-how-plan-before-retirement

Medical Daily (NAT)

Americans Are Not Getting Older as Life Expectancy Stagnates

06-21-12

Charles Poladian

Americans are not getting any older, literally. Life expectancy in the United States has stagnated and falls behind several other countries, in several cases by five years or more.

http://www.medicaldaily.com/news/20120621/10400/life-expectancy-stagnates-america.htm

National Journal (NAT)

Entitlements: Obama vs. Romney Policy Positions—PICTURES

06-21-12

Staff

Entitlement issues are already at the forefront of this year's presidential race. On many of these issues, President Obama and Mitt Romney have taken divergent stances that we compare below.

http://www.nationaljournal.com/pictures-video/entitlements-obama-vs-romney-policy-positions-pictures-20120622

Boston (MA)

In the 401(k) era, 70 may be the new age to retire

06-21-12

Beth Healy

It’s official. When it comes to retiring, 70 is the new 65. That’s according to a study from Boston College’s Center for Retirement Research that shows fewer than half of US workers will have

http://articles.boston.com/2012-06-21/business/32354498_1_full-retirement-benefits-social-security-hard-work

Boston (MA)

Older workers facing age bias

06-21-12

Beth Healy

More than one-quarter of older Massachusetts residents said they or someone they know has experienced age discrimination in the workplace, according to survey released Thursday by AARP.

http://www.boston.com/businessupdates/2012/06/21/older-workers-facing-age-bias/zt5FtAGqKQMEoKZjZSrd2O/story.html

Businessweek (NAT)

Bowles Says Romney Plan Would Require Ending Tax Breaks -

06-20-12

Richard Rubin

Republican presidential candidate Mitt Romney’s plan to reduce tax rates would need to be financed by ending widely used benefits such as the mortgage interest

deduction, said Erskine Bowles, who was co-chairman of President Barack Obama’s deficit-reduction commission.

http://www.businessweek.com/news/2012-06-20/bowles-says-romney-plan-would-require-ending-tax-breaks

Laramie Boomerang (WY)

Casper Democrat runs for House

06-22-12

Aaron Leclair

Henrichsen said he favors the more moderate budget proposal put forth by former Sen. Alan K. Simpson, R-Wyo., and Erskine Bowles, a former chief-of-staff to President Bill Clinton, to the plan proposed by Rep. Paul Ryan, R-Wis., which would dramatically cut spending programs for the poor and restructure Medicare and Medicaid.

http://www.laramieboomerang.com/articles/2012/06/22/news/doc4fe3f7c9a396d725699774.txt

The Seattle Times (WA)

Presidential race: Deficit panel report gets new attention

06-20-12

Tom Raum

Romney told CBS' "Face the Nation" that he agrees with the concept of lowering tax rates and broadening the tax base advocated by the co-chairmen of Obama's deficit commission, Republican Alan Simpson and Democrat Erskine Bowles.

http://seattletimes.nwsource.com/html/politics/2018478808_apustherace.html

Politics

Wall Street Journal (NAT)

Republicans Are Blocking Obama's Jobs Plan

06-21-12

Jeffrey Liebman:

In The Wall Street Journal. Obama campaign adviser Jeffrey Liebman writes that nine months ago, the president outlined his American Jobs Act and independent economists said it would create as many as 1.9 million jobs.

http://online.wsj.com/article/SB10001424052702303734204577464883344765926.html?grcc=98d11ac73271b1d4931d111fd34dc5daZ3ZhpgeZ0Z10Z64Z8Z2

Politico (DC)

Fast and Furious: How President Obama and John Boehner got to the brink

06-22-12

Josh Gerstein and Jake Sherman

It was a fight that neither man wanted. For more than a year, President Barack Obama and House Speaker John Boehner showed little interest in becoming central players in the long-simmering controversy over Operation Fast and Furious. Yet Obama and Boehner now find themselves in just that spot, locked in a high-stakes constitutional clash and election-year...

http://www.politico.com/news/stories/0612/77722.html

Politico (DC)

Darrell Issa 'not available' if President Obama calls

06-21-12

MJ Lee

After leading a House committee’s vote to hold Attorney General Eric Holder in contempt of Congress on Wednesday, Rep. Darrell Issa joked during a TV interview that he didn’t want to speak to “Barack.” On the set of Fox News’ “On the Record with Greta Van Susteren” on Wednesday night, the show’s host...

http://www.politico.com/news/stories/0612/77694.html

The Washington Post (DC)

Romney’s Bain Capital invested in companies that moved jobs overseas

06-22-12

Tom Hamburger

Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India.

During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.

http://www.washingtonpost.com/business/economy/romneys-bain-capital-invested-in-companies-that-moved-jobs-overseas/2012/06/21/gJQAsD9ptV_print.html

The Hill (DC)

Obama looks to capitalize on shift in presidential race’s momentum

06-22-12

Amie Parnes

President Obama will look to cap a week in which momentum in the presidential race appeared to shift in his favor with a Thursday address to the National Association of Latino Elected and Appointed Officials in Florida.

http://thehill.com/homenews/administration/234227-obama-looks-to-capitalize-on-shift-in-presidential-races-momentum

LA Times (CA)

Romney taunts Obama, ducks overall immigration fix

06-21-12

Staff

Accusing President Obama of taking Latino voters for granted, Mitt Romney told an influential Latino audience Thursday that he would "replace and supersede" Obama's new deportation policy for young immigrants but offered no details.

http://www.latimes.com/news/politics/la-pn-romney-taunts-obama-ducks-overall-immigration-fix-20120621,0,375396.story

USA Today (NAT)

Donors' push strengthens behind Romney

06-22-12

Fredreka Schouten and Christopher Schnaars

Republican donors rallied to Mitt Romney's presidential campaign in May.

http://www.usatoday.com/news/politics/story/2012-06-21/romney-fundraisers-obama-perry/55752190/1

USA Today (NAT)

Hoyer: House majority relies on Obama victory

06-22-12

Susan Davis

Minority Whip Steny Hoyer, D-Md., said President Obama must win re-election for Democrats to win control of the U.S. House.