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Mitch Daniels: Avoid 'Fiscal Niagara' On Social Security

Indiana Gov. Mitch Daniels urges adjusting the Social Security system in his new book, Keeping the Republic. In the book, Daniels writes that Carlo Ponzi — the con man whose name became synonymous with a swindling scheme — would make "an ideal Social Security commissioner."

Census: Reading, Pa., Has Highest Poverty Rate

Melissa Block speaks with Reading, Pa., Mayor Thomas McMahon about the recent U.S. Census Poverty Report that ranks Reading as the city with the highest rate of residents living in poverty.
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Latinos Now Majority Of Children In Poverty

Latino children now make up the largest population of young people living in poverty in the United States, according to new data from the Pew Hispanic Center.


'Retirement Heist': How Firms Trimmed Pensions

As companies have moved away from traditional pension plans, they've been shifting employees to 401(k)s that transfer the cost — and the risk — to workers. Companies have claimed for years that old-style pensions were unsustainable. But author Ellen Schultz says the shift has helped firms boost their bottom lines.

Fed Dissenter Thomas Hoenig Retires

Thomas Hoenig, the president of the Federal Reserve Bank of Kansas City, retires this week. He sticks out among members of the Open Markets Committee. He's voted against low interest rate policy years, and he's spoken against it, though in a decorous way. With just a couple of days left on the job, he's speaking more forcefully now.

Saving For Retirement: How Much Do You Need?

The amount can be confusing and depressing, so many Americans never calculate it. Experts offer their formulas, and say you'll be far happier later if you pinch pennies now.

More Trouble In Greece Ahead Of Debt Inspections

Athens is hit by another wave of protests as international inspectors are due to return to Greece to weigh whether it has done enough to secure crucial bailout funds. Meanwhile, German Chancellor Angela Merkel hints that a second Greek bailout package might have to be renegotiated.

Cain's Catchy 9-9-9 Tax Plan Draws Interest, Doubters

The Republican presidential candidate proposes a flat 9 percent income tax, corporate tax and national sales tax. It attracted the attention of Republican voters in Florida's straw poll, where Cain took first place. But economists wonder how well it would work.

Recession A Tougher Hit For The Middle-Aged

They face more financial demands than other age groups, like supporting a family or paying for their kids' educations, and they're too young to retire. Middle-management positions that were cut during the recession are slow to come back, making competition fierce for those jobs, economists say.