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The Takeaway: McConnell Plan Tug of War; Caregiver Catch-22
Posted By Tina Johnson-Marcel On July 14, 2011 @ 9:04 am In Bulletin Today | Comments Disabled
Debt talks heat up, President Obama walks out. (He’ll be back today.) Senate Minority Leader Mitch McConnell continued yesterday to push his “last-option” plan to solve the debt ceiling crisis – for the sake of the nation and his party. “All of a sudden we have co-ownership of a bad economy. That is very bad positioning going into an election.” But House Majority Leader Eric Cantor, left, will have none of it. Also yesterday, Sen. John McCain made it clear that Republicans will not be moved by scare tactics, including President Obama’s statement that Social Security checks can not be guaranteed if the debt ceiling isn’t raised by August 2. “It’s really, really unfortunate and it’s demagoguery.” But both sides agree there will be serious consequences if Congress does not meet the deadline. (More to come as talks resume today.)
… HIV drug breakthrough.
“Taking a daily pill containing either one or two anti-HIV drugs can reduce transmission of the virus by as much as three-quarters among heterosexual couples, two studies in Africa have shown – a breakthrough finding that promises to intensify a new focus on AIDS prevention. The results were so compelling that the larger study was halted early and the drugs given to all the participants.”
… Caregiver Catch-22. You want to care for your parents, but you also have a full-time job, a family and, possibly, a looming retirement. As hard as the choice is, a recent study suggests that caregivers should keep their day jobs. Nearly one quarter of adult children – mostly over 50 – provide financial or health care assistance to their aging parents. Those who quit their jobs before retirement lose about $3 trillion dollars in wages, pension, and Social Security benefits. … Boomers expect more out of retirement. “Americans 55 and older are more likely to be worried or even angry about the state of their finances than they were before the recession, but poll results released Tuesday suggest their confidence is making a rebound.”
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