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.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- 43 TV shows to watch in 2014
- Here comes the Pentagon's newest space plane
- 3 horrific inaccuracies in Homeland's depiction of Islamabad
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- The U.S. is about to sell weapons to Vietnam. That's bad news for China.
- The real story behind Deliver Us From Evil
- What would a U.S.-Russia war look like?
- How foreign aid screwed up Liberia's ability to fight Ebola
- The simple trick to making better decisions in every aspect of life
- How 1,000-year lifespans could remake the economy
Subscribe to the Week