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By LOS ANGELES TIMES | March 20, 2001
WASHINGTON - Social Security and Medicare, bolstered by a booming economy, will enjoy an unexpected extension of their financial solvency, government trustees reported yesterday. But President Bush, pushing hard for partial privatization of Social Security, insisted that both programs are in trouble for the long haul and need major reforms. "Reform must include allowing younger workers the option to take some of their own money and put it in the private markets, under safe conditions," the president told a meeting of the Hispanic Chamber of Commerce at the White House.
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NEWS
April 6, 2013
Robert Reich's op-ed ("Obama should not compromise on Social Security and Medicare" April 3) prompts me to write. Mr. Reich's prescription for these programs isn't completely off the mark. But there is a much more comprehensive solution to each. Social Security: eliminate the cap on income subject to Social Security taxes. Then lower the rate dramatically. There is no rationale for having any cap on earned income subject to taxes in the first place. This change would dramatically increase revenue into the system without changing benefit formulas.
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NEWS
April 6, 2013
Robert Reich's op-ed ("Obama should not compromise on Social Security and Medicare" April 3) prompts me to write. Mr. Reich's prescription for these programs isn't completely off the mark. But there is a much more comprehensive solution to each. Social Security: eliminate the cap on income subject to Social Security taxes. Then lower the rate dramatically. There is no rationale for having any cap on earned income subject to taxes in the first place. This change would dramatically increase revenue into the system without changing benefit formulas.
NEWS
July 30, 2011
Ten Baltimore area post offices are at risk of closing. They are among 41 in Maryland and 3,700 nationwide that the Postal Service says it can no longer afford to operate, either because they don't have enough patrons or are located near another post office. That's sad news to those who rely on one of them for services or a sense of community. But the sadder news is that as necessary as the Postal Service's announcement was this week, it was also wholly insufficient. The postal service stands on its own - it does not rely on taxpayer funds, and in a time when technology and competition from private delivery services are cutting into its business, it is in a severe financial pinch.
NEWS
By Jules Witcover | April 29, 2005
WASHINGTON - A three-ring circus on Social Security reform was on display this week - the first ring in Galveston, Texas, the second outside the U.S. Capitol, the third inside at a hearing of the Senate Finance Committee. In Galveston, ringmaster George W. Bush held one of his final performances in a 60-stops-in-60-days road show peddling his pitch for "personal investment accounts" bankrolled by Social Security payroll taxes. As always, he preached to a choir of the invited faithful, telling his audience that Americans around the country are waking up to the virtues of his scheme but that the politicians "in Washington, D.C."
NEWS
By Jules Witcover | May 4, 2005
WASHINGTON - After months of adamantly refusing to move in the absence of a specific Democratic plan to deal with the long-term solvency of Social Security, President Bush has at last offered the outlines of his own proposal. He is being applauded by fellow Republicans for breaking the stalemate with congressional Democrats, who had been insisting that as head of the executive branch he "go first" in presenting a way to address the predicted eventual shortfall in revenue to pay promised retiree benefits.
NEWS
By Julie Hirschfeld Davis and Julie Hirschfeld Davis,SUN NATIONAL STAFF | March 10, 2005
WASHINGTON - As President Bush goes back on the road today to trumpet his vision for saving Social Security, some Republicans worry that the president has lost control of his own debate. Polls show that Bush has largely succeeded in his efforts to convince the public that the program faces serious difficulties, including a $3.7 trillion shortfall. Their concern, say some strategists and lawmakers, is that in doing so, Bush might have undercut the case for his chosen solution: allowing younger workers to invest part of their payroll taxes in the stock and bond markets.
NEWS
July 19, 2005
BURIED WELL behind the big headlines of these summer days comes word that Congress has postponed work on President Bush's Social Security overhaul perhaps beyond any real chance of enactment this term. No surprise there. Republicans were unable to form any kind of consensus on the politically volatile issue, and Mr. Bush never firmed up his own ideas into a specific proposal. Democrats refused to engage at all. Polls show voters turning thumbs down. Still, there is a profound sense of opportunity lost.
NEWS
By Rep. Benjamin L. Cardin | December 17, 1995
THE CURRENT DEBATE on Medicare and Medicaid is really a battle over the budget, with each side hoping the other will say "uncle" before the government collapses. Despite the political rhetoric, the real battle isn't about health care all, but rather about the budget.The Republicans' cuts in Medicare and Medicaid are needed to offset their $245 billion tax cut, which will benefit mainly those earning more than $100,000 a year.But rather than focusing on tax cuts, the Medicare and Medicaid debate should revolve around four things: maintaining the solvency of the trust fund, controlling costs to seniors, preserving the right to choose one's own doctor, and providing basic health care.
NEWS
June 26, 2005
THE SOCIAL Security system has a solvency problem. Over the next 75 years, with no changes, promised benefits will exceed estimated income by about $3.7 trillion. Social Security can keep paying all scheduled benefits for another 36 years, according to projections, but its annual surpluses run out in just a decade or so - highlighting the need for Washington to get serious about a comprehensive fix. The stakes can't be understated: Social Security, according to a recent study for the Economic Policy Institute, is the largest income source for two-thirds of those over 65. For most Americans, lacking private pensions and big 401(k)
BUSINESS
By Jay Hancock | January 24, 2011
No, Gov. Martin O'Malley won't toss out traditional pensions for newly hired state teachers and other employees, as Alaska and Michigan have done. He's not turning retiree health care plans over to the unions, as policymakers have proposed in New Hampshire. He won't cut cost-of-living adjustments for existing employees and retirees. That's what happened in Colorado, Minnesota and South Dakota, to great protest and litigation. The governor has avoided the most radical fixes for Maryland's troubled pension and retiree health care programs.
NEWS
July 19, 2005
BURIED WELL behind the big headlines of these summer days comes word that Congress has postponed work on President Bush's Social Security overhaul perhaps beyond any real chance of enactment this term. No surprise there. Republicans were unable to form any kind of consensus on the politically volatile issue, and Mr. Bush never firmed up his own ideas into a specific proposal. Democrats refused to engage at all. Polls show voters turning thumbs down. Still, there is a profound sense of opportunity lost.
NEWS
June 26, 2005
THE SOCIAL Security system has a solvency problem. Over the next 75 years, with no changes, promised benefits will exceed estimated income by about $3.7 trillion. Social Security can keep paying all scheduled benefits for another 36 years, according to projections, but its annual surpluses run out in just a decade or so - highlighting the need for Washington to get serious about a comprehensive fix. The stakes can't be understated: Social Security, according to a recent study for the Economic Policy Institute, is the largest income source for two-thirds of those over 65. For most Americans, lacking private pensions and big 401(k)
BUSINESS
By James Peltz and John Beckham and James Peltz and John Beckham,LOS ANGELES TIMES | June 1, 2005
CHICAGO - United Airlines reached tentative agreement yesterday on a new cost-saving contract for its 19,500 ground workers, heading off a potentially devastating strike and vastly improving the airline's chances to emerge from bankruptcy. The proposed contract with the Machinists union - which still must be ratified by the membership - means United is poised to achieve its goal of saving about $725 million a year by forging new concessionary agreements with all four of its labor groups.
NEWS
By Jules Witcover | May 4, 2005
WASHINGTON - After months of adamantly refusing to move in the absence of a specific Democratic plan to deal with the long-term solvency of Social Security, President Bush has at last offered the outlines of his own proposal. He is being applauded by fellow Republicans for breaking the stalemate with congressional Democrats, who had been insisting that as head of the executive branch he "go first" in presenting a way to address the predicted eventual shortfall in revenue to pay promised retiree benefits.
NEWS
By Jules Witcover | April 29, 2005
WASHINGTON - A three-ring circus on Social Security reform was on display this week - the first ring in Galveston, Texas, the second outside the U.S. Capitol, the third inside at a hearing of the Senate Finance Committee. In Galveston, ringmaster George W. Bush held one of his final performances in a 60-stops-in-60-days road show peddling his pitch for "personal investment accounts" bankrolled by Social Security payroll taxes. As always, he preached to a choir of the invited faithful, telling his audience that Americans around the country are waking up to the virtues of his scheme but that the politicians "in Washington, D.C."
BUSINESS
April 28, 1991
This table reflects the financial strength of life/health insurance companies writing policies in Maryland, as assessed by Standard & Poor's.The table contains two types of analysis. The broadest category is for companies receiving "qualified" ratings, derived from a newly developed, broad computer analysis using 1989 data filed publicly with regulators. Standard & Poor's analysts explain the rating system using a stoplight analogy. BBBq, the highest rating, is similar to a green light, BBq a yellow light, and Bq a red light.
BUSINESS
May 5, 1991
The following table reflects the financial strength of property and casualty insurance companies writing policies in Maryland, as assessed by Standard & Poor's.The table contains two types of analysis. The broadest category is for companies receiving "qualified" ratings, derived from a newly developed, broad computer analysis using 1989 data filed publicly with regulators. Standard & Poor's analysts explain the rating system using a stoplight analogy. BBBq, the highest rating, is similar to a green light, BBq a yellow light, and Bq a red light.
NEWS
By Julie Hirschfeld Davis and Julie Hirschfeld Davis,SUN NATIONAL STAFF | March 10, 2005
WASHINGTON - As President Bush goes back on the road today to trumpet his vision for saving Social Security, some Republicans worry that the president has lost control of his own debate. Polls show that Bush has largely succeeded in his efforts to convince the public that the program faces serious difficulties, including a $3.7 trillion shortfall. Their concern, say some strategists and lawmakers, is that in doing so, Bush might have undercut the case for his chosen solution: allowing younger workers to invest part of their payroll taxes in the stock and bond markets.
NEWS
By Andrea K. Walker and Andrea K. Walker,SUN STAFF | January 20, 2005
American Skyline Insurance Co., launched four years ago with exuberant backing from Baltimore leaders concerned that high auto insurance premiums were driving residents from the city, has been halted by state regulators from taking additional policies because of financial problems. The order from the Maryland Insurance Administration forbids American Skyline from renewing current policies when they expire. It remains in effect until the company can prove it is financially solvent. The state insurance commissioner said the company couldn't support its operating costs after losing $27 million in roughly three years and the loss of its lead investor.
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