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September 13th, 2012
09:20 PM ET

The next generation and Social Security

Ryan Schoenike believes Americans in their 20s need to think about the future of Social Security now. His story is part of AC360's series "What Keeps You Up at Night," which focuses on election issues.


Filed under: 2012 Election • Economy • Social Security
October 15th, 2009
04:58 PM ET

Financial Dispatch: First tally on stimulus jobs released

The White House has released its first report on job creation since the American Recovery and Reinvestment Act of 2009

The White House has released its first report on job creation since the American Recovery and Reinvestment Act of 2009

Andrew Torgan
CNN Financial News Producer

The White House today unveiled the first hard data on how many jobs the $787 billion recovery act has created.

So far, companies that have received stimulus contracts directly from the federal government have created 30,383 jobs. These firms have been awarded $16 billion in contracts and have actually been paid $2.2 billion.

Stimulus-fueled job creation has become a very controversial issue. The Obama administration has faced blistering attacks by Republicans who contend that the recovery act has failed to live up to its promise to put Americans back to work.

So far, the federal government has made available a total of $256.3 billion in contracts, grants and loans and has paid out $110.7 billion to state and local governments, non-profit agencies and companies. The reports released today were the first in a series that provides a tally of the actual number of jobs created by the Recovery Act.

The Obama administration downplayed the data, saying it represents just a small sliver of the stimulus that's been spent since the massive recovery act was enacted in February.

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Filed under: Andrew Torgan • Finance • Housing Market • Social Security
August 24th, 2009
12:35 PM ET

Financial Dispatch: No raise for Social Security

Andrew Torgan

CNN Financial News Producer

Millions of older Americans face stagnant Social Security checks next year, the first time in three decades that payments would not rise.

The trustees who oversee Social Security are projecting there won't be a cost of living adjustment for the next two years. That hasn't happened since automatic increases were adopted in 1975.

By law, Social Security benefits cannot go down. But monthly payments would decrease for about millions of people in the Medicare prescription drug program because their premiums, which often are deducted from Social Security payments, are scheduled to go up from $28 to $30.

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Filed under: Andrew Torgan • Economy • Finance • Social Security