Social Security News 7-12-12

 Wall Street Journal (NAT)

With Rates Low, It Pays to Delay Social Security

07-12-12

Robert Powell

There aren't many things good about a zero-interest-rate-policy world for retirees or those planning their retirement. But researchers say there is one bright spot. Most households benefit from waiting to claim Social Security when real interest rates are close to zero, as they are now, according to research published by National Bureau of Economic Research.

http://online.wsj.com/article/BT-CO-20120712-705911.html

 

NPR (NAT)

The Nation: The Tide Is Turning On Health Care

07-12-12

George Zornick

"Same crap, different day," said Representative Gwen Moore of Wisconsin. "Republicans have fought against the New Deal, the Great Society, the expansion of Social Security, the establishment of the Social Security Act, Medicaid, Medicare — from day one. This is just another day.

http://www.npr.org/2012/07/12/156655017/the-nation-the-tide-is-turning-on-health-care

 

New America Foundation (NAT)

The Hole in the Bucket

07-11-12

Phillip Longman

Never before in history has the great American middle class obsessed so much over financial planning as during the last forty years or so.

http://www.newamerica.net/publications/articles/2012/the_hole_in_the_bucket_69414

 

The Huffington Post (NAT)

Greg Gutfeld Freaks Out On Bob Beckel Over Allen West Apology 

07-12-12

On Tuesday's show, Beckel called West "a blowhard" after the Republican representative called Social Security"modern 21st-century slavery." Beckel described West's comment as "one of the most obscene comments — even for [West]."

http://www.huffingtonpost.com/2012/07/12/greg-gutfeld-bob-beckel-allen-west-apology_n_1667589.html?utm_hp_ref=media

 

The Huffington Post (NAT)

LGBT Couples Often Face Additional Financial Hurdles

07-11-12

Heterosexual spouses can receive up to 50 percent of their spouse's Social Security benefits if he or she is alive and the amount is higher than their own benefit. They can also collect their dead spouse's benefit if it exceeds their own. And they receive a $255 lump-sum death benefit if their spouse dies. None of these benefits apply to same-sex spouses under Social Security.

http://www.huffingtonpost.com/jason-alderman/lgbt-marriage_b_1662546.html

 

Morning Star (NAT)

Top 10 Myths About Social Security

07-12-12

Mark Miller

Social Security is going bankrupt. It's a Ponzi scheme. The program's trust fund contains nothing but a bunch of worthless IOUs. Those are just a few of the comments we hear frequently from journalists, politicians, and policymakers about Social Security. But they're all false--and that's a big problem.

http://news.morningstar.com/articlenet/article.aspx?id=559533

 

Forbes (NAT)

Why You Should Plan on Working to Age 70

07-11-12

Kerry Hannon

Push off retiring until age 70 and your financial world is going to be much brighter.

The Center for Retirement Research at Boston College reports in a new study titled: “National Retirement Risk Index: How Much Longer Do We Need to Work?” that a whopping  85% of households would be prepared to retire by age 70.

http://www.forbes.com/sites/kerryhannon/2012/07/11/why-you-should-plan-on-working-to-age-70/

 

Forbes (NAT)

'Family Care' Benefit Could Fix Retiree Pay Gap

07-11-12

Sharon Johnson

A national coalition of advocates for women’s financial security is proposing sweeping changes in the Social Security system to end the gender gap in retirement benefits. They want public retirement credits for people who take time off from paid employment to serve as family caregivers, for retirees who have worked in low-wage occupations and for widows.

http://www.forbes.com/sites/womensenews/2012/07/11/family-care-benefit-could-fix-retiree-pay-gap/

 

 

Washington Post (NAT)

Former father and son investigative team for Hewlett-Packard to be sentenced in federal court

07-12-12

AP Wire

“The Social Security Number was an essential piece of information required to obtain the subject’s telephone record and other information...,” court documents said. “The Social Security Number is, for many Americans, the closely-guarded key of all of their financial and personal records.”

http://www.washingtonpost.com/national/former-father-and-son-investigative-team-for-hewlett-packard-to-be-sentenced-in-federal-court/2012/07/12/gJQAz2UoeW_story.html

 

Bloomberg (NAT)

Social Security Hole Overwhelms Taxes, Cuts

07-11-12

Laurence Kotlikoff

Now that health care is off the front burner, it’s time to fix Social Security. Social Security’s trustees say the system needs only “modest changes.” In fact, the system is desperately broke.

http://www.bloomberg.com/news/2012-07-11/social-security-hole-overwhelms-taxes-cuts.html

 

Reason.com (NAT)

The Real Class Warfare is Baby Boomers Vs. Younger Americans

07-11-12

Nick Gillespie

But here's the real rub, kids: You're getting screwed by Social Security, a program that is now more sacrosanct to aging boomers than Sgt. Pepper's Lonely Hearts Club Band. You're paying more into the system than you're ever going to get out. No wonder it's mandatory. 

http://reason.com/archives/2012/07/11/the-real-class-warfare-baby-boomers-vs-y

 

Talking Points Memo (DC)

Dems: ‘Obamacare’ Will Thrive Like Social Security And Medicare

07-11-12

Sahil Kapur

“I think what has occurred was entirely predictable,” Rep. Earl Blumenauer (D-OR) told TPM. “This was a massive overhaul of over one-seventh of the national economy. And the history of major things like Social Security, Medicare, Medicaid is that it takes time to sink in. Social Security was not wildly popular at the time. And Medicaid was not adopted by all the states until 1982.”

http://tpmdc.talkingpointsmemo.com/2012/07/democrats-obamacare-social-security-medicare.php

 

Island Packet (SC)

Letter: GOP wants to shred our safety net programs

07-12-12

Tony Amadeo

They are fully aware that once all of the provisions of the act are implemented the American people will overwhelmingly accept the program the way they cherish Social Security, Medicare and all the safety net programs. When they fail, Republicans will look for more novel ways to eliminate the program.

http://www.islandpacket.com/2012/07/12/2132126/gop-wants-to-shred-our-safety.html

 

Gasparilla Gazette (FL)

Editorial: Health care tax recalls Social Security boondoggle

07-11-12

Editorial

When the government imposes payment, be it a fee, contribution or a penalty, it's a tax. That was the linchpin of the administration's argument as to the health care plan's constitutionality, and it is the bedrock of the Supreme Court finding. In demanding honesty, let's go nearly 77 years back. "Social insurance," aka the Social Security Act, passed in August 1935, went through a similar challenge and prevailed for much the same reason.

http://www.gasparillagazette.com/page/content.detail/id/517900/Health-care-tax-recalls-Social-Security-boondoggle.html?nav=5048

 

Shreveport Times (LA)

Financial Fundamentals: How long will Social Security be around?

07-10-12

Grover Ranz

A lot of Americans are asking questions about our Social Security system with respect to its ability to meet the future obligations of retirees. We know the number of retirees is growing dramatically with the onset of the estimated 76 million baby boomers at or near retirement. It's estimated that each day somewhere between 6,000 and 8,000 Americans are retiring. 

http://www.shreveporttimes.com/article/20120711/NEWS05/207110319/Financial-Fundamentals-How-long-will-Social-Security-around-

 

Politics

 

Boston Globe (MA)

Mitt Romney stayed at Bain 3 years longer than he stated

07-12-12

Callum Borchers and Christopher Rowland

Government documents filed by Mitt Romney and Bain Capital say Romney remained chief executive and chairman of the firm three years beyond the date he said he ceded control, even creating five new investment partnerships during that time.

http://bostonglobe.com/news/politics/2012/07/11/government-documents-indicate-mitt-romney-continued-bain-after-date-when-says-left/IpfKYWjnrsel4pvCFbsUTI/story.html

 

Huffington Post (NAT)

A Thousand Cuts: Austerity Measures Devastate Communities Around The World

07-12-12

Jason Cherkis

The austerity budget, conservatives' favored response to the Great Recession, is more than just simple belt tightening. It's not one cut or 10, but a thousand. City and neighborhood essentials like bus service become expendable, and things that we have come to depend on as part of our daily lives are slowly erased. Those teachers and firefighters Mitt Romney doesn't want to pay for? They're already part of austerity's disappeared jobs.

http://www.huffingtonpost.com/2012/07/12/austerity-measures-a-thousand-cuts_n_1666309.html

 

Washington Post (NAT)

Medicaid expansion a tough sell to governors of both parties

07-12-12

N.C. Aizenman and Karen Tumulty

While the resistance of Republican governors has dominated the debate over the health-care law in the wake of last month’s Supreme Court decision to uphold it, a number of Democratic governors are also quietly voicing concerns about a key provision to expand coverage.

http://www.washingtonpost.com/national/health-science/2012/07/12/gJQAF4RAfW_story.html

 

New York Times (NAT)

Conservatives Push Romney to Deliver Counterpunch

07-12-12

Jeff Zeleny and Ashley Parker

But now, even with polls suggesting he is battling Mr. Obama to a draw at this stage of the race, Mr. Romney finds himself confronting concern that he is not nimble and aggressive enough to withstand the Democratic assault against him.

http://www.nytimes.com/2012/07/12/us/politics/romney-faces-calls-to-deliver-counterpunch.html?_r=1&hp

 

Washington Post (NAT)

Why (most) African Americans are a lost cause for the GOP

07-11-12

Jamelle Bouie

Mitt Romney’s speech this morning to the NAACP was indicative of the extremely shaky relationship Republicans currently have with the black community. The pitch for deregulation and small government was met with silence, while a promise to repeal Obamacare was received with sustained and repeated boos.

http://www.washingtonpost.com/blogs/plum-line/post/why-most-african-americans-are-a-lost-cause-for-the-gop/2012/07/11/gJQATgaSdW_blog.html

 

The Guardian (UK)

Barclays chief Bob Diamond could be brought before Congress, sources say

07-11-12

Dominic Rushe and Jill Treanor

US politicians are considering summoning Barclays' former boss Bob Diamond to Washington to answer questions about the Libor-fixing scandal, in a sign that the controversy is becoming an ever hotter issue in the US.

http://www.guardian.co.uk/business/2012/jul/11/barclays-bob-diamond-congress