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Social Security is the government’s best anti-poverty program - Dotemirates
2 month 1 week

Social Security is the government’s best anti-poverty program

It should come as little surprise as the baby boomer generation ages into retirement, but Social Security overwhelmingly lifts the most people out of poverty than any other government program. That’s according to the Census Bureau’s supplemental poverty measure released Wednesday, which tries to take into account the government programs designed to assist low-income families and individuals that are not included in the official poverty measure. Social Security kept 27 million people out of poverty, according to these numbers. Refundable tax credits had the second-biggest impact, keeping 8.3 million out of poverty. Related: Why people who claim Social Security early...


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Business News

13 minute 20 second

Dc explains: Printing notes is RBI’s prerogative

S. Gurumurthy, the co-convenor of the Swadeshi Jagaran Manch and a recently-appointed part-time director of RBI, spearheaded a informal campaign against the Reserve Bank of India and its official directors-cum-economists. He had seven prime complaints about the central bank. Deccan Chronicle speaks to Dr Subhanil Chowdhury, assistant professor at Institute of Development Studies, to understand the basis for Mr Gurumurthy’s arguments. Gurumurthy: The bad loan problem had started in 2008 and peaked in 2014. But the RBI did not act on it in 2008 but imposed curbs in one-go in 2015 affecting banks badly. Dr Chowdhury: There is no doubt...
23 minute 20 second

UAE indicates full compliance with US sanctions on Iran

DUBAI: The United Arab Emirates is fully complying with sanctions imposed this month by the United States on Iran even though it will mean a further drop in trade with Tehran, said a UAE economy ministry official.Abu Dhabi, the political capital of the UAE federation, has taken a tough stand on Tehran, although Dubai, the country’s business hub, has traditionally been a major trading partner with Iran.Washington announced on Nov. 5 a series of sanctions targeting Iran’s banks, shipping sector, national airline and 200 individuals after President Donald Trump pulled the United States out of an international nuclear deal with...
24 minute 11 second

Saudi economy sees ‘stabilization’: Analyst

LONDON: Saudi Arabia’s reduction in its budget deficit marks a “stabilization” of its economy but avoiding big hikes in government spending will remain a challenge, according to a new research note.Saudi Arabia reduced its budget deficit by 60 percent to SR49 billion ($13 billion) in the first nine months of the year, official figures published last month show.The reduction — greater than anticipated in earlier budget forecasts — was the result of a significant growth in both oil and non-oil revenues, the Ministry of Finance said. A research note by Paul Wetterwald — chief economist for Indosuez Wealth Management, the...

38 minute 30 second

Nearly 50 tons of ground beef recalled due to possible E. coli contamination

The weekend recall of nearly 100,000 pounds of ground beef possibly tainted with E. coli is the second large meat recall in as many months by JBS USA, a unit of the world's largest meat processor. Swift Beef Co. recalled 99.260 pounds of ground beef that many be contaminated with E. coli, a potentially deadly bacteria, the U.S. Department of Agriculture's Food Safety and Inspection Service (FSIS) announced.Swift Beef shipped the recalled meat to retail distributors for further processing and food service providers for institutional use in five states, including California, Nevada, Oregon, Utah and Washington, the agency said.The problem...
42 minute 33 second

SA teachers set to vote to go on strike for first time in 10 years

Parents "should plan now" for South Australia's first public schools teachers' strike in 10 years, the Australian Education Union says.Teachers are voting this week on whether to walk off the job next Thursday morning, November 29.AEU state president Howard Spreadbury said enterprise bargaining agreement negotiations started at the beginning of the year and the State Government had rejected almost all of the union's demands.In particular, the union wants reduced class sizes, more resources for special-needs children, more incentives for teachers to work in the country and more permanency for workers."They want to take these matters out of the next enterprise...
45 minute 29 second

Elderly residents forced to move out of Port Hedland homes amid safety worries

ABC North West WA By Kendall O'Connor A group of elderly residents who are facing eviction from their remote Western Australian homes have hit back at the council behind the move.The Port Hedland residents, some who had lived in their properties for more than a decade, said the accommodation on offer — which was 20 kilometres away — was too isolating.Hendrick 'Jacko' Scheltens said he did not sleep for two nights when he and 16 other residents were given the news that they had to leave.He has lived in his Pilbara unit for 15 years."I thought I was going to...