National / International News

The next generation of Social Security

Marketplace - American Public Media - Fri, 2015-01-09 07:40

Inheritance is not just personal. It's factors into the broader economy: what we leave behind for future generations, what one generation saves for itself, and for the next.

As Americans, we spend most of our careers paying into social security, with the promise that we'll get a little money from the country in our old age. But as Baby Boomers age and retire the Social Security reserves are strained.

Baby Boomers expanded the workforce on their own -- add into the mix a major influx of women into the workplace, and the dwindling reserves in the disability program and the retirement programs make sense. These are problems that have been predicted for years, and since Social Security was introduced, Congress has adjusted and reallocated budgets to keep the programs solvent and keep benefits stable. 

Without any changes, Social Security's disability reserve fund will run out next year. The retirement trust fund will exhaust in 2034. The facts sound a bit scary, but Stephen Goss, chief actuary of the Social Security Administration, says there isn't much reason to worry. Even if Congress did nothing to reallocate funds, the money coming into the Social Security program through payroll taxes would keep benefits going at 77 cents to the dollar for retirement, and 81 cents to the dollar for disability. 

Still, half of millennials don't think there will be any money left for them in social security when they retire, according to a Pew poll.

Alicia Munnell, director of the Center for Retirement Research at Boston College, agrees with Goss that Social Security will bounce back. So why the concern? Is Social Security a strained part of a larger retirement system desperately in need of overhaul? 

Stephen Goss and Alicia Munnell speak with Lizzie O'Leary to talk about how and when Congress needs to act to keep Social Security solvent, and how current generations should approach retirement in order to maintain benefits for the future. 

Weekendish: The best of the week's reads

BBC - Fri, 2015-01-09 07:39
A collection of some of the best reads from the BBC News website this week.

VIDEO: Moment police take warehouse roof

BBC - Fri, 2015-01-09 07:27
Explosions and gunfire has been heard at the warehouse where the suspects in the Charlie Hebdo siege are holding a hostag

Disease 'major threat' to EU olives

BBC - Fri, 2015-01-09 07:23
A virulent pathogen that starves and can kill olive trees poses a serious threat to EU olive production, experts warn.

The French Perspective On 2 Desperate Days Following 'Hebdo' Shooting

NPR News - Fri, 2015-01-09 07:22

Renee Montagne speaks with Sylvie Rottman, senior producer at France 24, for the latest on the mood of the French people, who have been rocked by the shooting at the Charlie Hebdo offices.

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MP receives Twitter pipe bomb threat

BBC - Fri, 2015-01-09 07:21
Police are investigating after an MP received threats on Twitter that his office would be bombed.

What U.S. Officials Know Now About The Standoffs In France

NPR News - Fri, 2015-01-09 07:18

For the latest on Friday's tense situation in Paris, NPR's counterterrorism correspondent Dina Temple-Raston offers information she has learned from U.S. officials who are following the standoffs.

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Negotiator On The Scene In Standoff Outside Paris

NPR News - Fri, 2015-01-09 07:12

Steve Inskeep talks with Chris O'Brien of the Los Angeles Times to focus on just one of the standoffs now unfolding in France — the one at the building of a printing company northeast of Paris.

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‘Bent time’ tips pulsar out of view

BBC - Fri, 2015-01-09 07:12
One of deep space's spinning "lighthouses" fades from view as it warps space-time, tilting its radio beams away from Earth.

Week in pictures: 3-9 January 2015

BBC - Fri, 2015-01-09 07:08
The best news photos from around the world

Adams & Mitchell reach semi-finals

BBC - Fri, 2015-01-09 07:04
Three-time champion Martin Adams and fourth seed Scott Mitchell are through to the BDO World Championship semi-finals at Lakeside.

Hospital killer gets whole life order

BBC - Fri, 2015-01-09 06:50
A convicted murderer who stabbed to death a worker at a mental health unit in Gloucestershire is sentenced to a whole life order.

VIDEO: Meet the Author: Michaela DePrince

BBC - Fri, 2015-01-09 06:48
On this week's Meet the Author Nick Higham talks to Dutch National Ballet dancer Michaela DePrince, author of Hope in a Ballet Shoe.

Murray wins but GB exit Hopman Cup

BBC - Fri, 2015-01-09 06:46
Andy Murray and Heather Watson win but Great Britain miss out as Poland and US reach the Hopman Cup final.

Ageing-tech expert sought by DWP

BBC - Fri, 2015-01-09 06:45
An expert in systems that are more than 40 years old to revamp technology used by the Department for Work and Pensions.

Poll: Most Americans Would Share Health Data For Research

NPR News - Fri, 2015-01-09 06:38

The topics for study didn't matter much to people who said they were willing to share. Every category — ranging from safety issues to health costs — scored at least 90 percent in the NPR poll.

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Still Just A Bill: Why Being Senate Bill 1 Doesn't Guarantee Success

NPR News - Fri, 2015-01-09 06:28

The prestige of being S-1, like the Keystone XL legislation, conveys a sense of priority and urgency. But the history of past bills designated as such is rather mixed.

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Quashed murder conviction man jailed

BBC - Fri, 2015-01-09 06:22
A man who spent 13 years in prison before his murder conviction was quashed is jailed for 10-and-a-half years for killing a friend.

Mideast Conflict Could Bog Down International Criminal Court

NPR News - Fri, 2015-01-09 06:17

Palestinians have joined the court, hoping for war crimes investigations against Israel. This presents a challenge for the ICC, which some say has been floundering elsewhere.

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'Planet' Pluto comes into view

BBC - Fri, 2015-01-09 06:15
The standout space event of 2015 could well come in July when the New Horizons probe flies by dwarf planet Pluto.

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