Social Security shortfall
The Social Security Trust Fund will run out of money in 2037, four years earlier than previously estimated. The updated figure comes from a new report from the Social Security trustees, which blames recession-induced layoffs for cutting into the payroll tax receipts that support the fund. Social Security is currently in surplus but will shrink rapidly as the baby boom population ages.
In a sharp change of direction, the Obama administration will take a hard line on antitrust cases, the Justice Department’s chief antitrust official said. Assistant Attorney General Christine Varney urged smaller companies in particular to inform authorities of potentially anti-competitive behavior by their larger rivals. During economic recessions, Varney said, large companies can be tempted to engage in predatory practices, such as price-fixing, to kill off weakened competitors.
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