AARP announced a major policy and research initiative Tuesday drawing attention to the economic decline of the American middle class. In the run-up to what will surely be a bruising Congressional battle over Medicare, Medicaid, Social Security, and other federal benefit programs, the powerful seniors' group said it would push for strengthened supports for all generations.
The head of AARP warned Tuesday that cost-of-living adjustments in Social Security would jeopardize the retirement security of many seniors.
A. Barry Rand, in a speech at the National Press Club, laid out his group's agenda as Washington heads into another showdown over the debt ceiling.
Rand repeated AARP's opposition to moving to the so-called chained consumer price index (CPI), calling it "one of the worst" ways to reduce spending in Social Security.
AARP CEO A. Barry Rand called for renewed focus on strengthening Social Security, Medicare and Medicaid in a speech today at the National Press Club. Rand discussed findings from AARP Public Policy Institute's newly released "Middle Class Security Project," which studies how middle class working Americans struggle - and often fail - to build and maintain retirement security.
Adrift on a sea of red ink, more middle class Americans are feeling queasy about their retirement plans. And many of those struggling to save have very little time to right the ship.
Though technology and innovation have squeezed trading costs, the industry's profits are accounting for a bigger share of U.S. GDP, a former Goldman banker says, needlessly diverting some $635 bln from the broader economy. It lends credence to ideas like a transaction tax.
To hear the media tell it, all eyes are on the fiscal cliff. Which side is compromising and which side isn't? Which side's numbers add up? How can votes in the House and the Senate be structured for maximum political gain? What will the deal ultimately be? And, most important, which side will win and which side will lose? Is this great drama gripping the entire nation? Actually, only Washington and the media are transfixed.
Four-year-old John Kaykay is a serious and quiet boy—“my thoughtful one,” his dad calls him. When the official greeters at the front door of the McClure early-childhood center in Tulsa welcome him with their clipboards and electric cheer—“Good morning, John! How are you today?”—he just slowly nods his small chin in their direction. When he gets to Christie Housley’s large, sunny classroom, he focuses intensely on signing in, writing the four letters of his name with a crayon as his dad crouches behind him.
It's widely known that the U.S. is way out of step with the rest of the world in not having paid maternity leave. We are now one of only three nations—rich and poor - that don't guarantee job-protected time off with some amount of income after the birth of a child.
It is really terrific to see retailers here giving critical attention to the Demos study. As a former business owner in the health services industry, I do realize that these problems are more than just abstract theory. That's one of the reasons why Demos and I thought it would be useful to evaluate the possibilities for adopting this business model across the retail sector, especially as the importance of retail to the US economy continues to grow.
As Americans across the country head out en masse to malls and shopping centers to kickoff the holiday spending season today, it's important to remember that too many of the retail workers bringing us those deals earn meager wages.
The ranks of America's retail workforce have surged to more than 4.5 million workers, making it one of the nation's largest job categories. Their numbers swell further during the holiday crush, as stores take on additional seasonal employees. The U.S. is expected to add another 740,000 of retail jobs by 2020.
With Thanksgiving come and gone, we are now officially in the thick of the holiday shopping season, which means a good chunk of the country will be driving down to Walmart, Target, and other giant discounters to pick up gifts for friends and family. When they do, they'll be rewarding some of the largest companies in America for paying many of their front line workers poverty wages.
This Black Friday the lives of low-wage retail workers were thrust into the spot light as employees of a variety of stores weent to work on Thanksgiving Day and strikersdescended on Walmart stores in 100 cities.
Thousands of Walmart workers around the country are planning to strike on Black Friday, hoping to end retaliation they claim the massive retail chain’s workers receive when they speak out for better working conditions.
On a talk show this past Sunday, Walmart worker Greg Fletcher spoke about the realities of struggling to provide for his family on the company's infamous low wages. David Frum, a conservative columnist atNewsweek, pointedly asked Greg whether he got the Earned Income Tax Credit, a tax refund meant to supplement the earnings of low-wage workers.
“Black Friday” sales are debt traps for people to rush out and buy on credit.
But we can fix this on both the wage and profit ends of the continuum. It’s not that complex a fix, but it requires seeing our country as a whole, as one people who rise and fall together.
We can fix this whole mess and have something for which we could really give thanks, if we just paid workers a little more.
Walmart has been on something of a charm offensive where the public is concerned (and anintimidation offensive where its workers are concerned), hoping to blunt the impact of the Black Friday rebellion.
"Everyone is part-timed to death at these stores," Walton said. "When they sign up for these shifts, it's 'I don't get enough hours, I'm dying for hours, so I'll work these shifts.' Until we do something to stop the part-timing of the workforce, we're going to see this happen."
"Workers want to stop this before it becomes an absolute standard to work on Thanksgiving," Walton added.
FORTUNE -- Thousands of Wal-Mart employees won't be pushing away from the Thanksgiving meal today to visit with family, watch football, or even clean the dishes. Instead, they'll be heading to work to welcome bargain-hunting shoppers.
As Black Friday approached, the honchos at Walmart, the largest employer in the United States, found themselves at a loss to respond to a nationwide rebellion within the ranks of their near-captive workers -- people who work for an average wage of $8.81 per hour, according to The National Memo, often in areas where Walmart is the only game in town for a job if you don’t have a college degree (or even if you do).