Skip to Content

Government pensions and social security

US pension insurer ran record $62B deficit in 2014

Federal insurer of pensions reports $62B deficit for fiscal 2014; blames multi-employer plans
Marcy Gordon And Tom Raum, The Associated Press

WASHINGTON - The deficit run up by the federal agency that insures pensions for about 41 million Americans has nearly doubled, to $62 billion. And the agency says that without changes, its program for pension plans covering 10 million of those workers will be insolvent within 10 to 15 years.

Japan's PM reshuffles Cabinet to win tax support

Japan's leader reshuffles Cabinet to win opposition support for tax hike proposal
Malcolm Foster, The Associated Press

TOKYO - Japanese Prime Minister Yoshihiko Noda replaced five members of his Cabinet on Friday in a bid to win more co-operation from the opposition to raise the sales tax and rein in the country's bulging fiscal deficit.

Two of the removed ministers had been censured by the opposition for making comments that were deemed inappropriate. Twelve posts were unchanged, including finance and foreign minister.

Syndicate content