Economic Archives - DR News - News, Retirement, Finance

Social Security Faces Possible Insolvency: Committee for Economic Development Issues Warning and Offers Solutions

WASHINGTON, D.C. – The Social Security program is facing potential insolvency, raising concerns about the future of retirement benefits for millions of Americans. According to the public policy center of The Conference Board, the dedicated trust fund for Social Security is projected to reach insolvency by 2033 if decisive action is not taken. In response to this alarming prospect, the Committee for Economic Development has issued a “Saving Social Security” solutions brief, outlining a series …

Investing: Brunel Pension Partnership Warns of Economic Risks Amid “Goldilocks” Scenario

London, UK – As the global economy continues to navigate through uncertain waters, the investment landscape presents a complex mix of potential risks and opportunities for investors. David Vickers, the chief investment officer at Brunel Pension Partnership, has voiced concerns about the current economic scenario, warning that despite receding recession risks, there are other factors that could impact investors. With around £40 billion in assets under management, Brunel Pension Partnership is one of the eight …

Lawmakers Considering Increasing Oversight of Indiana Economic Development Corp Amid Growing Bipartisan Frustration

INDIANAPOLIS, Indiana – Indiana lawmakers are exploring the possibility of increased oversight of the Indiana Economic Development Corp. as frustration with the agency grows on both sides of the political aisle. Both Republican and Democratic legislators have raised concerns about the lack of transparency and oversight regarding the IEDC’s activities, especially in relation to the development of the LEAP Innovation and Research District. The creation of the 9,000-acre tech hub in Lebanon, designed to attract …

Congressional Action on Potential Economic Impact of Marijuana Legalization in the US

Washington, D.C. – In the ongoing debates surrounding the status of marijuana in the United States, significant developments are unfolding. The U.S. Drug Enforcement Administration has recently proposed easing federal restrictions on marijuana, sparking discussions on the drug’s future classification. As the DEA accepts public comments on the proposal until mid-July, attention is turning to the potential economic impacts of reclassifying marijuana to a less restrictive schedule under the federal Controlled Substances Act. This shift …

Americans Struggle to Cover $1000 Emergency Expenses Despite Favorable Economic Conditions

Muncie, Indiana – The dawn of 2024 brought surprisingly positive economic conditions for Americans, as inflation rates declined and employment figures exceeded expectations. However, despite this strong economic performance, a significant number of Americans find themselves lacking sufficient savings to handle unforeseen emergency expenses. According to the latest Bank rate survey, just 44% of U.S. adults claim they would cover a $1000 or more emergency expense from their savings. This marks a slight increase from …

Georgians Prosper with Medicaid Expansion: Economic Benefits Await Closing Coverage Gap

Atlanta, Georgia – Nearly half a million residents in Georgia, including small business owners, farmers, veterans, and part-time, hourly, and gig workers, find themselves in a coverage gap where they cannot afford private health insurance nor qualify for Medicaid. Closing this gap is not only crucial for healthcare policy but also for economic policy, benefiting all Georgians by fostering a healthier and more productive workforce. Recent research conducted by the Georgia Health Initiative revealed that …

Surprising Economic Growth in 2023 Delivers Welcome Boost to 401(k) Accounts and Stock Market

NEW YORK, NY – After widespread predictions of recession last year, 2023 defied expectations with better-than-expected economic growth and falling inflation, the latest federal data shows. Investors have been buoyed by growing optimism that the Federal Reserve will cut interest rates this year, leading to record highs in the stock market. The S&P 500 is up over 2% at the start of this year, after a 26% jump last year. One of the most significant …

Economic Misconceptions Lead Voters to Blame Biden in Guardian Poll

Washington DC – A recent Harris poll conducted exclusively for a leading publication revealed that a significant portion of Americans are under the impression that the United States is in an economic recession, with the majority attributing blame to the Biden administration. The survey unveiled a prevailing sense of pessimism among respondents as the upcoming election day looms. The poll shed light on various misconceptions circulating among the public regarding the economy. A striking 55% …

Economic Focus: Trump Speaks on Inflation at Minnesota GOP Fundraising Event in St. Paul

St. Paul, Minnesota – Former President Donald Trump made a highly-anticipated appearance at the Minnesota GOP fundraising dinner in St. Paul, where he addressed a crowd of 1,400 attendees. The event, which coincided with the Republican Party’s state convention, was a significant gathering aimed at supporting the party’s efforts in the upcoming elections. Tickets for the dinner ranged from $500 to $100,000 for a VIP table, with the proceeds benefiting the Minnesota Republican Party. Trump’s …

Debt Interest Payments Surpass Defense and Medicare Spending: Threatening U.S. Economic Stability

New York, New York – Interest payments on the increasing national debt have now surpassed spending on defense and Medicare in the United States, causing concern among policymakers. The rise in interest costs threatens to jeopardize the country’s economic stability, according to experts who have been monitoring the situation closely. In the first seven months of fiscal year 2024, net interest spending has surged to $514 billion, exceeding expenditures on national defense ($498 billion) and …