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By Saul Landau
$34.95
$23
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David Fitzsimmons, Cagle Cartoons, The Arizona Star —
Posted on Apr 26, 2013
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Bob Englehart, Cagle Cartoons, The Hartford Courant —
Posted on Apr 13, 2013
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kenteegardin (CC BY-SA 2.0)
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A survey found that more than half of Americans have less than $25,000 in savings and investments excluding their homes, while 28 percent doubt they will have enough money to retire comfortably—a high in more than two decades of study.
Posted on Mar 19, 2013
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Cam Cardow, Cagle Cartoons, The Ottawa Citizen —
Posted on Feb 21, 2013
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Photo illustration from an image by Colin Grey (CC-BY)
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This week on Truthdig Radio in association with KPFK: The progressive plot to save representative democracy, China’s retirement bomb, Republican junk science, and doping in sports.
Posted on Jan 18, 2013
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This week on Truthdig Radio in association with KPFK: The progressive plot to save representative democracy, China’s retirement bomb, Republican junk science, and doping in sports.
Posted on Jan 18, 2013
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Flickr
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A new report issued by the Organization for Economic Co-operation and Development has advised governments to increase the retirement age in their countries. In the face of longer life expectancies, a higher retirement age is the only way to keep pension programs solvent, it says.
Posted on Jun 12, 2012
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Flickr / SimonAlparaz (CC-BY)
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For obvious reasons, Americans’ savings accounts are shrinking during this ongoing recession, both because there’s not as much money to deposit and many more reasons to make withdrawals. This has consequences for the economy’s long-term recovery prospects, as does another currently popular method of payment: the credit card.
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By Kelly Johnson —
Ellen E. Schultz’s “Retirement Heist: How Companies Plunder and Profit From the Nest Eggs of American Workers” reveals how fleecing the elderly is just business as usual for corporations. If the retirement industry isn’t reined in, she concludes, we’ll be right back where we were in the 1930s.
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Fabricator of Useless Articles (CC-BY)
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Most Americans think that the big government entitlement programs—Social Security and Medicare—are a good thing. But young and old part company, according to a new Pew report, over the current effectiveness of the programs and what to do about it. (more)
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Flickr / shredded77 (CC-BY)
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The U.S. Postal Service said Thursday that it is thinking about closing more than half of its mail-processing centers, which would eliminate more than 35,000 jobs, in order to turn a profit. (more)
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Flickr / Borya
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On Sunday, President Obama and members of the U.S. Congress agreed to cut at least $2.4 trillion from federal spending over the next 10 years, some of which will come from programs that benefit retired Americans. (more)
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Prisoners all over California continue a hunger strike despite nearing death; “Sister Wives” reality TV show stars fight the anti-polygamy law; and economists have resorted to capital bribery to resuscitate the American job market. These discoveries and more after the jump.
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U.S. Congress
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Texas Congressman Ron Paul is streamlining his professional plans. Yes, he’s still running for president, and it looks as though his supporters haven’t deserted him since the last election cycle, but he won’t be seeking to reclaim his House seat after 2012.
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Flickr / pedrosimoes7
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Spokespersons for the AARP are in damage control mode after The Wall Street Journal reported last week that the organization, which claims to lobby on behalf of older Americans, “is dropping its longstanding opposition to cutting Social Security benefits.” (more)
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Flickr / ElvertBarnes
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Federal labor statistics show that older Americans are much more likely now to be holding on to their careers—because they can’t afford to retire—while vast numbers of young Americans are failing to get on track in the job market. (more)
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Flickr / Tattooed JJ
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State governments are looking at a cumulative shortfall of at least $1.26 trillion needed to pay for pension and retirement health care services, The Pew Center on the States reported in a study published last week.
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Pat Bagley, Cagle Cartoons, Salt Lake Tribune —
Posted on Mar 18, 2011
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Photo illustration from an image by Flickr user Lucy Boynton (CC-BY)
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By Ellen Goodman — In little over a century, Americans have gone from a life expectancy of 47 to one of 78. By 2025 there will be 66 million Americans over 65. The decisions that we make individually and collectively about how to spend this gift of time will reshape the country.
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AP / Claude Paris
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As French President Nicolas Sarkozy tries to push through a reform plan to increase the retirement age, protests and strikes have wreaked havoc on the country and sent Sarkozy’s approval rating into a tailspin.
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Nate Beeler, Cagle Cartoons, The Washington Examiner —
Posted on Oct 22, 2010
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AP / Thibault Camus
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President Sarkozy, you’re on notice. On Tuesday, French protesters took to the streets en masse to send the message that they do not approve of their president’s move to change the country’s official retirement age.
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bbc.co.uk
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On Wednesday, tens of thousands of people in Spain, Italy, Greece and other European nations registered their disapproval of their governments’ moves to make them bear the brunt of the financial shenanigans that sent the global economy into a downward spiral two years ago.
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Wikimedia Commons / Prolineserver
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New York Times econo-whiz Paul Krugman marked the 75th anniversary of America’s Social Security program with a warning note on Sunday, declaring that Social Security is under siege from “nearly all Republicans” as well as “some Democrats.”
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DoD / U.S. Air Force Tech. Sgt. Jerry Morrison
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Secretary of Defense Robert Gates has held his position through the transition from the Bush to the Obama administration, but it’s looking like he won’t hang on for yet another presidential term.
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youtube.com
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Turns out the rumors are true: CNN is soon going to drop “Larry King Live” from its lineup. The Suspendered One announced Tuesday that he’ll retire this fall after 25 years with the show to spend more time with his family.
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White House / Pete Souza
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White House press corps veteran Helen Thomas, 89, has faced off with nine different presidents—starting with Eisenhower—and their supporting players over the course of her career, but ultimately her own words ... (continued)
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Another Democrat is leaving the fold on Capitol Hill. Sen. Evan Bayh announced Monday that he won’t seek re-election this fall after 11 years in the Senate, pointing to recent partisan politicking in Congress as the main reason for his departure. “People’s business is not getting done,” Bayh said, making sure to point out that he’s not making this move because he thinks he wouldn’t win.
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By Ellen Goodman — There is something fitting about writing my last column on the first day of a new year. January, after all, is named for the Roman god of beginnings and endings. [Editor’s note: This is Ellen Goodman’s final column.]
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AP / Susan Walsh
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Another head of another big bank is rolling ... all the way out the door. On Wednesday, Bank of America CEO Kenneth Lewis made the startling announcement that he was opting to take early retirement, effective the last day of this calendar year.
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By Marie Cocco — Not to ruin brunch, but Mom’s probably not doing very well. Not if she’s already retired, not if she’s a baby boomer approaching retirement, not if she’s a younger woman who hasn’t yet given retirement a thought.
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By Marie Cocco — This is how it ends. Or at least, this is how the latest, sad chapter in a story that has been ending for three decades is written.
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msrb.wordpress.com
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Some of them have only their homes, while others have no remaining assets and no means to earn income, but all of the former clients of Bernard Madoff (above) whose statements were made public by the government on Friday described in nightmarish terms their experiences since Madoff’s fraudulent investment empire crumbled.
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By Marie Cocco — No Wall Street rally can obscure the scary historical prospect that most Americans now working can expect to have less income security in retirement than their parents had.
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Even though this CBS report seems to want to make a feel-good story out of this one, it’s more the stuff of nightmares, despite 90-year-old Ian Thiermann’s good-natured take on his fate. After being retired for 30 years, Thiermann discovered that he’d lost his entire retirement fund due to Bernie Madoff’s shenanigans, and now Thiermann is working for $10 an hour in a California supermarket.
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Flickr / soggydan
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John McCain has laid out his plan for how he would help Americans recover from the recent shocks to the domestic and international markets. He took the action on Tuesday, a day later than he initially said he would and a day after Democratic presidential rival Barack Obama released his own economic plan—and McCain’s timing was not lost on the Obama campaign.
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By Marie Cocco — The essential fallacy of the 401(k) has been exposed. It took a historic market collapse—one that threatens to impoverish workers already in retirement and those who are nearing it.
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The former senator from Alaska who read the Pentagon Papers into the congressional record in 1971 tells a small group after his failed bids for the 2008 Democratic and Libertarian nominations: “This is the end of my political career.” But don’t worry about Mike Gravel. He certainly doesn’t: “What’s the worst thing that’s happened to me? I go back to a normal life? At my age? This is terrible?”
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By Marie Cocco — Those who think they will retire in Fat City because they have a 401(k) may be headed for a bitter disappointment. The system’s rules are flawed, and Washington should reform them.
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AP photo / Kirsty Wigglesworth
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Although his contributions to the field of genetics will probably continue to define his scholarly legacy, it seems that the final chapter of DNA pioneer James Watson’s career has been irrevocably marred by the reckless and inflammatory remarks he recently made about race and intelligence.
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Katrina vanden Heuvel, editor of The Nation, asks, “Is there a retired general left in the States who hasn’t called on Secretary of Defense Donald Rumsfeld to fall on his sword?”
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The Federal Reserve finds that the average family has only about $3,800 in the bank, no retirement account and no stocks or bonds, and can’t pay off a $2,200 credit card balance.
Pretty grim…. But don’t fear. Tax cuts for the rich will make everything all better.
Posted on Mar 5, 2006
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Wal-Mart’s CEO suggests that a store manager is disloyal, and should consider quitting, after the manager laments the lack of health benefits at the mega-chain. This happened on a confidential, internal website that the N.Y. Times sussed out.
Earlier: Sales are brisk and accusations fly as Robert Greenwald’s Wal-Mart documentary racks up 110,000 DVD sales.
Posted on Feb 17, 2006
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Real American Boy: How Our Byzantine Immigration System and Failed Economy May Have Made a Terrorist
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