Trustees warn Social Security and Medicare funding worsens
The annual trustees report says Social Security will pay more in benefits than tax intake starting in 2016, with the trust fund depleted by 2037, while Medicare hospital funding will be insolvent by 2017. Treasury Secretary Geithner urges action as the recession drives deficits and unemployment rises to 25 year highs.
MENTIONED IN THIS ARTICLE
Washington, D.C
Social Security
Medicare
Treasury
Timothy Geithner
Congress
Trustees
Trade deficit widens in March to 27.6B with China gap
The Commerce Department reported a March U S trade deficit of 27.6 billion, up from February and the widest since last July. The ratio shows a slumping export market amid global recession hurting U S manufacturers including Boeing and Caterpillar.
MENTIONED IN THIS ARTICLE
Washington
D.C
U.S
China
Commerce Department
America
Boeing Co
Caterpillar Inc
Median home prices slip in most U S cities in first quarter
The National Association of Realtors reports prices declined in 134 of 152 metros year over year while 18 rose. Foreclosures and distressed sales make up about half the market as overall sales fall 3.2 percent. Analysts warn the bottom may not arrive soon despite stimulus hopes.
MENTIONED IN THIS ARTICLE
U.S
Washington
D.C
National Association of Realtors
David Resler
Nomura Securities
Realtors
Barack Obama
New York City
Robert Oppenheimer
Englewood Cliffs
N.J
Congress
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