Social Security shortfall, and more

last updated 8 January 2015

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.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE

https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

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.