For the past three years, there's been a shortfall in the payroll taxes collected for Social Security. And as more baby boomers join the ranks of the 57 million people already receiving benefits, that deficit is bound to keep growing.
At the same time, the overall share of wages being taxed for Social Security is shrinking as the higher wages that are exempt have soared. The Social Security Board of Trustees predicts a nearly $3 trillion trust fund built up over decades will vanish within 20 years.
Tributes are pouring in from around the globe on news that Nelson Mandela, the man who led South Africa out of apartheid, has died. He was 95 and had been ill for a long time. His death marks the passing of an era and President Obama spoke a short time after hearing the news. President Obama held Mandela up as an inspiration to his own leadership.
Originally published on Thu December 5, 2013 7:08 pm
The White House has acknowledged that as a student at Harvard Law School in the 1980s, the president briefly lived with his Kenyan-born uncle, after it first denied the two had ever met.
Earlier this week, Onyango Obama, 69, faced a deportation that resulted from a 2011 drunken-driving arrest. At the hearing, which he won, the judge asked about his family, and Onyango replied that he had a nephew named Barack Obama, adding, "He's the president of the United States."
Originally published on Fri December 6, 2013 6:27 am
If you love cats and adore Christmas, do we ever have the website for you. It takes the concept of "reality TV" in new directions â€” eight solid hours a day of streaming video of cats in a holiday setting.
The scene you'll find at Christmas Cats TV is a unique one. A woman sits in a den that includes a Christmas tree, a hearth and some presents â€” and a whole lot of cats, some of which have been cajoled into wearing Christmas sweaters.
Originally published on Thu December 5, 2013 3:49 pm
Wildlife officials in southwest Florida who are struggling to save dozens of beached pilot whales say there's hope that at least some of the animals might escape after they spotted at least 20 of them swimming in deeper water.