Page 21 - Pension Program News Today

$19 billion in january and turn around and about $23 billion back in over the next two years. and the third is it changes the focus. not dramatically, but in a tiny way from the annual spending by congress to the permanent programs that are really driving the spending and the budget problems, thats a step in the right direction. >> so in other words to deal with medicare, to deal with medicaid, to deal with social security, which many people say thats whats really driving our long-term problems....

The third is, it changes the focus, not in a dramatic way, but in a tiny way to the annual spending by congress to the permanent programs that are driving the spending and the budget problems. thats a step in the right direction. >> in other words, to deal with medicare, to deal with medicaid, to deal with social security which many people say thats whats really driving our long-term problems. theyve put aside the short term problems which is whats the budget going to be for the next year and ha...

Quite frankly, penalize them for the larger structural things that are happening within our economy. even though its not their fault like steve rattner said. i think that is a bigger, critical question and like a soul searching moment we should be having around this. >> the mayor did say over the weekend that he had not said no, nor had he said yes for a federal bailout so we will see what happens there. chip, you heard how congressman conyers was worried that this bankruptcy results in slashing...

Was established only on the back of social securitys constitutionality, which ultimately became francis perkins biggest challenge in writing that law. she and her team of lawyers and legislative experts couldnt come up with a constitutional justification for a national government administered pension program. in that same speech you heard, which was given when she was 82 years old, she told the story, the amazing story, of how she personal secured the constitutionality of social security. this f...

After all hes done nothing conservative over the last four years, nothing other than declaring war over extreme government bosses, fighting for education reform and spending less on this years budget than corzine spent on his budget. and keeping afloat the pension program, health program by eliminating colas, increasing employee contributions. the guy has done everything. he also cut business taxes by $2.6 billion. over 100,000 new jobs in his one state over the past year or two. hes the first p...

Little fictions and treat things in a straight-forward way. well spend this and if we do you have this much tack tax to pay it. higher tax for the middle class almost certainly but one thing to keep in mind is the real difference between the united states and most european countries. >> reporter: canada isnt that we tax the rich so lightly. we tax the rich fairly high here compared with those countries but we tax the middle class lightly. no one will win elections saying if we want a long-term s...

Early last year mr. quinn floated the idea that the federal government could bail out, that is the federal government, you, could bail out his states pension program if illinois finances took a turn for the worse. critics are pouncing saying states cannot give away big benefit packages and then expect the federal taxpayer to come to the rescue. "the chicago tribune" says the stampede of other states with pension red ink could lead to a federal taxpayer bill of over $2 trillion. thats with a t, a...

Bankruptcy a threat thats very definitely on the horizon. the bottom line for everybody watching our show who is any way, shape, or form near a city in trouble, your services, education and health in particular, are going to get cut. >> gretchen: let me ask you this, if they actually go through with the bankruptcy, then do they relieve themselves of all of these pensions and such that they have to pay, or how does that work out? >> its very harsh. you do go into chapter 9. if you do that as the ...

Buyout, they must walk away from the pension plan forever, 42,000 salaried retirees eligible for this and not an easy choice, though. each person when they decide what the amount is going to be will have to decide, is this lump sum, because now i am totally out of the pension program and i will not longer get a monthly payment what can i do with this money to secure an income for the rest of my life? >>gregg: the buyout expected to save g.m. $26 billion in pension obligations. >>heather: the b b...

Internet. but mobile is hard to make money on which is important when we look at the economy, of course, as we talk about. so we have to be patient making money with mobile but mobile is spreading. so, that is an interesting dichotomy. >> when the old folks get on the site like facebook you know it goes downhill. old folks like gregif? >>gregg: that is not true. i am an old folk. >>heather: he is a friend. one of my friends on facebook. the pictures are interesting. >>gregg: you saw those, right...