social security

Commerce Department Reported Personal Income Up 1%

Lawmakers pass a one-year reduction in worker contributions to Social Security last year, helping to add more money in each weekly paycheck.

Inflation rose to 0.3% in January, in line with December, and is up 1.2% over the past 12 months.

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The Commerce Department reported that the income of American workers jumped a seasonally adjusted 1% in January largely with the help of a temporary payroll tax cut, ahead of consensus estimates for an increase of 0.9%, while cons

By Stephanie Shyu
sshyu@fnno.com

Obama's $3.73 Trillion Budget Will Cut Spending, Up InvestmeObama's $3.73 Trillion Budget Will Cut Spending, Up Investment in Ke

The proposal will reduce the national deficit by more than $1 trillion over a 10 year period, 75% of which will be accounted for by spending cuts, tax increases or doing away with existing tax breaks.

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"President Barack Obama released Monday his plans to drastically cut federal spending with a proposed $3.73 trillion budget for fiscal year 2012.

By Stephanie Shyu
sshyu@fnno.com

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