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The Census Bureau estimates at least 27 large counties will have smaller populations in than today, including China, Russia, Germany, South Korea, and Japan. This is not good news. There are two ways to grow an. Some of the world's largest economies will soon get no help from the latter. To understand what an aging population does to an economy, it helps to know the story of Japan since the end of World War II. Like America, Japan had a baby boom right after the war as demobilized soldiers married and families were rebuilt.
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Deficit hawks: Not too bad, Mr. President
The great question haunting Washington's budget debate is whether our elected politicians will take back government from AARP, the 40 million—member organization that represents retirees and near retirees. For all the partisan bluster surrounding last week's release of President Obama's proposed budget, it reflects a longstanding bipartisan consensus to not threaten seniors.
Programs for the elderly, mainly Social Security and Medicare, are left untouched. With an aging population, putting so much spending off-limits inevitably means raising taxes, shrinking defense, and squeezing other domestic spending—everything from the FBI to college aid.
Power is the ability to get what you want. It suggests that you control events. By these standards, AARP runs government budgetary policy, not presidents or congressional leaders. Obama says we must "win the future," but his budget and, so far, the Republicans' too would win the past and lose the future.
The massive federal debt would keep growing because, without restraining spending on retirees, there's no path to a balanced budget. Our aging infrastructure highways, bridges, airports wouldn't get needed repairs. The social safety net for the growing ranks of poor Americans would be further strained.
We would cut defense while China's military expands. All this is insane. It's not the agenda of a country interested in its future. But it's our agenda. Look at Obama's budget.
Higher interest payments on the debt—mainly reflecting our inability to control big entitlements—account for an additional 31 percent. Altogether, that's 91 percent of the increase; the rest of government accounts for 9 percent. Indeed, when corrected for expected inflation and population growth, the rest of government shrinks. A table S-6 in Obama's budget shows this clearly. From to , annual spending on defense and homeland security would drop 21 percent after inflation and population adjustments.
Nonsecurity discretionary spending a catchall including air-traffic control, space exploration, regulation, and much more would fall 24 percent. Other "entitlements" food stamps and the like would decline 4 percent.
Meanwhile, Social Security would rise 27 percent and Medicare, 32 percent. AARP sends its representatives to Capitol Hill and think-tank seminars, where they pretend to be reasonable while frustrating needed Social Security and Medicare changes.
Higher life expectancy and growing private savings mean that eligibility ages could have been gradually raised and benefits curbed for wealthier retirees.
The age for full Social Security benefits did go from 65 to 66 and to 67, much later. Little else was done. As a result, any effort to control spending must focus on a relatively small part of the total from a seventh to slightly more than a third, with defense. House Republicans have cut many programs sharply—some sensibly, others not.
Obama is doing the same, though less dramatically. But AARP sets overall priorities. It won't work. The budgetary math doesn't compute; too much is left out. Consider Obama's projected budget for And that assumes "full employment," a 5.
No one wants to strip needy seniors of essential benefits; but Social Security and Medicare have become, for many relatively healthy and economically secure Americans, middle-class welfare. As a society, we need to re-define what's in the public interest and what's not.
That's the job of our political leaders. President Obama repeatedly pledges to deal with "entitlements"—and does nothing. He made the promise again last week. At the same time, congressional Republicans committed to proposing entitlement changes. We'll see if that happens—or if power continues to be forfeited to AARP. Newsweek magazine delivered to your door Unlimited access to Newsweek. Unlimited access to Newsweek.
America's Biggest Edge Over the Rest of the World
New media company Civil plans to create a credible network of online news in part through blockchain technology. Image: Freethink. It is a well-documented fact that the news industry is imploding. There are more local news deserts now than ever before, as neighborhood and city publications wither from a lack of ad dollars and reader support. Behemoths like Facebook eat up all the ad revenue and make it easy for anyone to spread false news. Our own president has declared open war on journalists, who now need security guards to cover his rallies.
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Baruch College is regularly featured in the media — in print, online and on radio and TV. Below you will find links to recent stories that illustrate the breadth of activity at Baruch College, the expertise of our faculty and staff and the commitment of our students. Which Is More Dangerous? Thomas J.
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Bo Xilai, son of a former Communist party leader and veteran of the Long March, has been exploiting his office for a thinly veiled campaign for a place on the party's nine-member standing committee that runs China. His fall was triggered when his righthand man in Chongqing, the police chief Wang Lijun, sought refuge in the American consulate in Chengdu, claiming that his life was under threat from Bo. From that moment, Bo's career was in doubt. The coup de grace was delivered by Wen at a press conference at the annual National People's Congress, when he warned that China risked another "historical tragedy" like the cultural revolution and that the Chongqing party had to "seriously reflect on the Wang Lijun incident". Bo's dismissal followed almost immediately. It is not surprising that tensions in the Chinese Communist party should be running high at this time.
Media Coverage
Hackers are currently trying to launder the stolen funds through crypto "mixer" applications. Tornado Cash is marketed as a privacy tool but it's great for crypto money laundering. The chipmaker looks set to release a purpose-built chip for mining bitcoin next month. The reality TV star mogul and other celebrities are accused of promoting EMax tokens, which allegedly enriched the…. But oh god, not like this. Yet another example of the worst people online making bank off the worst currency around.
Slate Star Codex and Silicon Valley’s War Against the Media
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The great question haunting Washington's budget debate is whether our elected politicians will take back government from AARP, the 40 million—member organization that represents retirees and near retirees. For all the partisan bluster surrounding last week's release of President Obama's proposed budget, it reflects a longstanding bipartisan consensus to not threaten seniors. Programs for the elderly, mainly Social Security and Medicare, are left untouched. With an aging population, putting so much spending off-limits inevitably means raising taxes, shrinking defense, and squeezing other domestic spending—everything from the FBI to college aid.
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Of course, there's also the issue of taking this approach to raise the magazine's literary and commercial value. The Vangardist 's May issue is already being considered a collector's item since just 3, copies featuring the HIV-positive ink blood have been printed. Reports initially claimed just the provocative cover was printed using HIV-positive blood for ink, a design approach the magazine is stressing is perfectly safe to touch and hold while reading. Now, others are saying the entire issue was printed with HIV-infected blood.
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