Congress

Reform Federal Spending Along with Social Security

No.: 
83

Many taxpaying Americans are understandably concerned about a congressional leader’s trial balloon proposal to hike the normal Social Security retirement age to 70. (The proposal would apply to workers at least 20 years from retirement.) Millions of Americans over age 55 cannot find suitable full-time work. A higher retirement age may mean more years of trying to get by on marginal employment.

Federal Debt Feeds the Wall Street Machine

No.: 
73

A contradictory investment climate exists because the Fed is feeding Wall Street with so much money. Hedge funds and investment banks don’t care that short-term Treasuries pay next to nothing. They buy Treasuries as collateral in up-leveraging speculative plays, especially in commodities. Wall Street elites expect to recoup the losses of 2008 as well as to grasp massive new profits, even if major indexes top out short of their former highs later this year or next year.

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