Obama Budget Said to Drop ‘Chained CPI’

The White House says it is dropping a proposal that would have lowered the cost-of-living adjustments for Social Security and other government social programs, according to published reports. President Barack Obama had previously proposed tying inflation adjustments to the so-called chained CPI, which measures inflation more conservatively, in exchange for tax increases. Republican lawmakers, who have backed the chained CPI,  didn’t go along with the deal. Politico reported a White House official saying: “Over the course of last year, Republicans …

Why Are Boomers Retiring So Early?

So much for boomers’ predictions that they’ll be working until they drop. A new study finds that more than half of the nation’s oldest boomers – those turning 67 this year – are now retired and not working at all. Most of them say they were ready to leave the working world for good. But one in six say they retired because of health problems, and one in 10 blamed a job loss. The findings – based on interviews with …