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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
Jan 31, 1997
Page
3
A wall being torn down for a Magic Johnson theater complex collapsed at a Houston shopping mall. Three people died, seven were injured, and as many as six were feared missing amid concrete and steel rubble as rescue dogs searched the debris.
The Senate Judiciary Committee backed a balanced budget amendment 13 to 5, rejecting Democratic efforts to exclude Social Security. The panel warned that removing the trust fund would create a major loophole. President Clinton warned that counting Social Security could risk elderly benefits. Debate moves to the full Senate next week as economists warned the measure could worsen recessions and curb borrowing for infrastructure.
Federal Reserve Chairman Alan Greenspan told Congress that a rapid redraw of the consumer price index could trim Social Security and other benefits and raise taxes for millions. He backed the Boskin report's finding of a 1.1 percentage point annual bias and urged an independent economists’ panel to advise on downward CPI adjustments and tax bracket changes.
A declassified memo cites a U S investigator claiming Switzerland received 100 tons of gold looted by Nazis from Belgium and held it for the regime after Allied warnings. The document questions Swiss good faith since Sweden refused the gold for the same reason. Senator D Amato released the memo.
Defaced UPS envelopes bearing bigoted messages reached the offices of Jesse Jackson Jr. and Bobby Rush in Chicago, New York Comptroller H. Carl McCall, former A U S A Deval Patrick, and others. UPS denied employee involvement and suspects an extortion scheme unfolding across four states and DC with FBI bias crimes units involved.
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