AARP Home » AARP Blog » AARP »Bulletin Today »In The Morning News

In The Morning News

Posted on 05/21/2008 by | Archived Contributor | Comments

Bulletin Today Print Print

AP: New Federal Budget Ignores Cost Ignores Challenges
“Democrats controlling Congress unveiled an election-year fiscal blueprint Tuesday that puts the federal budget mostly on autopilot, leaving the winner of November’s presidential election with a set of enormous challenges.” The budget “contains a host of shaky assumptions” and “does nothing to address the unsustainable growth of federal benefit programs.” But “even GOP opponents of the plan gave Democrats grudging praise for producing a budget in a difficult election-year environment, even though disagree with what’s in it.”
USA Today: Inflation Report Sparks Concerns
“Stocks, which seemed poised for an upside breakout a day earlier, took a nose dive Tuesday, raising fears that the 10-week-old rally could turn out to be a head fake.
Dragging down stocks was another record close for crude oil, which jumped $2.02 to $129.07 a barrel. Oil tycoon T. Boone Pickens, in a CNBC interview, predicted crude would hit $150 by the end of the year.”

US News And World Report: Target Funds Can Vary Widely In Assets
Emily Brandon writes, “Target-date retirement funds are designed to automatically shift investors’ portfolios to less risky assets as they age.” Yet the “‘age appropriate’ level of risk is open to interpretation. A recent analysis of target-date funds by consulting firm Watson Wyatt found that allocations to equities for employees 10 years from retirement varied from 40 percent to 80 percent among target-date funds in 2006,” and a Morningstar Direct “report found that some funds for employees expecting to retire in 2010 still have almost 70 percent of assets in equities.”

tell us whatYOU THINK

Please leave your comment below.

You must be signed in to comment.

Sign In | Register