The Tea Party-led Republican Party has already won the battle to cut this year's federal budget, and it has announced a plan to dismantle Medicare. Is a proposal to cut Social Security payments next?
Almost a quarter of Americans and Canadians say they expect to work past the age of 70, and 6% say they'll likely retire after their 80th birthday -- two years longer than the nations' life expectancy. That's according to a recent Nielsen survey, and it's not just a North American trend.
The Great Recession took lot of wealth out of baby boomer pockets, probably for good. That means luxury merchants will have to set their sights on a new demographic for growth in coming years. That group will most likely be the millennials, 25- to 34-year-olds.
Thirty out of 49 major developed countries could see their credit ratings plummet to junk status if they don't make changes soon, says a Standard & Poor's study. The biggest problem is health care spending on the elderly, particularly for long-term care.
