US to use federal pension to fight debt
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US President George Bush&#39;s administration has weathered a pre-election mauling as it announced emergency measures to skirt a $7.
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The US Federal Reserve increases the amount of money available as it seeks to ease the credit crunch.
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CRAWFORD, Texas  - Facing record budget deficits,  the Bush administration likely will turn to short-term  government borrowing to help finance its plan to add personal  retirement accounts to Social Security, officials said on  Saturday.
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Federal Reserve Chairman Alan Greenspan has done it again. For at least the fourth time this year, he has touched the electrified third rail of American politics - Social Security.
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US President Bush said that ânow is the time to confront Social Security to deal with a projected $3.7 trillion shortfall over 75 years and give younger workers the ability to invest some of their retirement money in personal accountsâ.
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The White House said on Monday for  the first time that President Bush's plan to add personal  retirement accounts to Social Security would be financed in  part by new government borrowing that could top $1 trillion.
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The U.S. government agency that insures corporate pensions will run out of money in 2020 if current financial conditions persist, imperiling the checks of millions of retirees, a new independent study shows.
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401(k) credit card would give millions of American workers the chance to borrow their own money from their retirement savings plans.
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JACKSON HOLE, Wyo. (CNNfn) - The US government must not promise benefits to aging baby boomers that it cannot afford, because that could mean painful future adjustments to taxes and spending, according to Federal Reserve chairman Alan Greenspan.
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Looking at alternate plans for Social Security
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The Supreme Court considered Wednesday how much retirement savings people can shield when they file for bankruptcy, an important question as more Americans go into debt.
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Leading economists say US taxpayers may have to pay for a pensions shortfall at the agency that protects pensions funds.
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An aging population will put significant stresses on the budget deficit over the next three decades, a problem that could be solved by raising the retirement age, Federal Reserve Chief Alan Greenspan said in a speech Friday.
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US Treasury Secretary John Snow repeated on Sunday the Bush administration would support complete debt relief for the poorest countries and said details of how to implement a plan could be worked out.
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The Senate approved and sent to the White House pension legislation to give millions of Americans a better chance of getting the retirement benefits they've earned while sparing taxpayers from possibly paying for failed pension plans.
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WASHINGTON: The deficit at the federal agency that rescues failed US corporate pensions more than doubled to $23.3 billion in fiscal year 2004, officials said on Monday, with analysts largely blaming bankrupt airlines.
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SAN FRANCISCO (CBS.MW) - Thousands of employees at bankrupt US airlines received a reassuring note Tuesday from the federal pension agency, which vowed to ensure they will still have pensions as they head into retirement despite talk by their employers of