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New reports out today from AARP and its Public Policy Institute underscore how the tough economy has taken a toll on the middle class, including those over age 50. The group says today’s workers are much less likely to enjoy a secure retirement, let alone the kind of retirement that their parents or grandparents enjoyed. They say these workers have seen their incomes fall, their savings shrink, and have gone deeper [...] President Obama invoked AARP to defend his health care law last night, prompting the influential group to release a statement telling him not to do that again. “While we respect the rights of each campaign to make its case to voters, AARP has never consented to the use of its name by any candidate or political campaign,” the group posted in a statement. “AARP is a nonpartisan organization and we do not [...] With studies showing home foreclosures hitting blacks and Latinos hardest, the Obama administration’s answer is baffling as well as destructive — to lend them more money, repeating the cycle of easy credit that led to the housing boom and bust. A new AARP report finds that even elderly minorities are facing serious mortgage delinquencies. Fifty-and-over African-Americans, for example, are almost twice as likely to lose their home as older whites. “This crisis [...] by Brandon Ballenger In the past few months, politicians like Texas Gov. Rick Perry and House Speaker John Boehner have suggested Americans spend as much as $500 billion a year to file taxes. That’s way off, according to Politifact. But they cite a tax expert’s opinion and a 2005 Government Accountability Office study that both suggest it is, however, probably above $100 billion a year. That’s a crazy number, considering many Americans don’t have to pay anything. According to the IRS, 70 [...] Some of these changes you will see this year. Others phase in over the next several years. If you are on Medicare, buy health insurance By Keith L. Alexander, Published: November 10 From WP: NEW ORLEANS — Chaka Khan is more than angry. Instead of getting to rest before her show at the Louisiana Superdome, the R&B star has been booked for two speaking engagements. She’s holed up in her hotel suite, fuming. Outside, her assistants are waiting for her to open the door. Her makeup artist, Derrick Rutledge, is waiting, too. He just flew in to do her after working [...] BOSTON–Chanting “hands off” and “no cuts,” hundreds of seniors rallied here to warn Congress’s deficit-cutting supercommittee to stay away from Social Security, Medicare, and Medicaid. “When you get older, you need help, not cuts,” said Steve Ciardi, a former pipe fitter who has multiple sclerosis and was in a wheelchair being pushed by his wife, Patty. “That is what the country is about – helping people,” she said. AARP Massachusetts, the SEIU and [...] Fed Trying to Make It Harder for Homeowners to Fight Mortgage Fraud by Gutting Truth In Lending LawsWashington’s Blog As reported by the Washington Post, the Fed turned a blind eye for years and allowed massive fraud in the mortgage market. After Alan Greenspan changed his mind and admitted that financial players commit fraud unless laws are enforced (see this and this), many hoped that the Fed would start cracking down on fraud a little bit. Unfortunately, the Bernanke Fed is continuing to try to sweep fraud under the [...] |
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