Treasury to fix Social Security boosting glitch
Treasury Secretary Robert Rubin says a computer error caused Social Security and other programs to earn excess interest from the Treasury for 18 years. A fix is in progress to stop future overpayments while not clawing back already credited funds. The miscalculation affects Medicare and federal employee retirement reserves and underpins political debate over government versus market investment of Social Security funds.
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Pentagon plans to keep troops in Persian Gulf region
General Anthony Zinni said the United States will maintain a continuous presence in the Persian Gulf to safeguard interests. He noted coalition forces hit about 85 percent of targets with 74 percent of them hit, during the four day strike on Iraq. The battle damage assessment is ongoing and will take more days. Cohen said the strikes delayed Iraq's missile program by at least a year and reduced its ability to threaten neighbors.
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Officials seek pay raise for military personnel
The Pentagon will ask Congress to restore military retirement to 50 percent of base pay and raise pay checks by 4.4 percent for fiscal 2000. Defense Secretary Cohen and Joint Chiefs Chairman Shelton said the move targets retention and attraction of service members, noting they have listened to troops’ concerns.
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Pentagon
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William Cohen
Army
Henry H. Shelton
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