The March 15 Associated Press story was blunt: "For more than two decades, Social Security collected more money in payroll taxes than it paid out in benefits — billions more each year. Not anymore. This year, for the first time since the 1980s, when Congress last overhauled Social Security, the retirement program is projected to pay out more in benefits than it collects in taxes — nearly $29 billion more."
Item: An Associated Press story dated February 17 reported: “Vice President Joe Biden asserted in an interview Wednesday that taxpayers have ‘gotten their money’s worth’ out of the $787 billion stimulus program that Congress passed during the depths of the recession....
The culprits blamed for the failure of Lehman Brothers in September of 2008 included the company’s top executives, their accountants, their highly-leveraged loans that had started going bad, their success at hiding those bad loans by cooking the books, and their lenders demanding more and better collateral, according to Anton Valukas in his 2,200 page report released Thursday.
After hiring lobbyists last year to protect its interests amidst increasing public and congressional scrutiny, the Federal Reserve banking cartel is stepping up the fight to keep and possibly expand its regulatory regime while maintaining its secrecy. This month, regional Federal Reserve Bank chiefs publicly pushed the issues in what the New York Times described as a “public relations offensive.”
When the Bureau of Labor Statistics announced last Friday that the economy lost only 36,000 jobs in February, the usual choristers took that as good news. Christina Romer, the Chairwoman of the White House Council of Economic Advisers said, “Today’s report on the employment situation is consistent with the pattern of stabilization and gradual labor market healing we have been seeing in recent months.”