Latest news with #SocialSecurity
Mint
an hour ago
- Business
- Mint
Elon Musk leaving Trump administration, Internet says ‘Anyway, DOGE was a failure'
Billionaire Elon Musk has bid farewell as a Special Government Employee to Trump's Department of Government Efficiency, known as "DoGE" — formed earlier this year. The space and technology billionaire confirmed his departure in a post on X. Musk was appointed as a "special government employee" - a designation that allows individuals to serve in a government role for up to 130 days per year. Since Donald Trump's inauguration on 20 January this year, Musk's term was expected to hit that limit by the end of May. Read | Elon Musk exits Trump administration as 'Special Government Employee' In his post, Musk thanked Trump for the role and said he believed DOGE would become a 'way of life throughout government.' Following Elon Musk's announcement of his departure from DOGE, social media, as expected, had plenty to say. While the majority of internet users wished the SpaceX billionaire well for his future ventures, one user took a different route and asked Grok to summarise Musk's accomplishments during his time at DOGE. Read | Elon Musk reacts after Starship megarocket explodes. Again. Says, 'Big improvement… lots of good data…' Grok, a generative artificial intelligence chatbot developed by xAI, is built on a large language model (LLM) of the same name. It was launched in November 2023 by Elon Musk himself. Designed to be conversational, Grok is known for its "sense of humour" and direct access to the social media platform X (formerly Twitter). True to form, Grok appeared to lean into its "sense of humour" in this instance too, as the AI chatbot remarked, 'The true impact of DOGE remains debated amid ongoing scrutiny.' When asked what Musk's achievements were at DOGE, Grok replied, 'As a Special Government Employee, Elon Musk led the Department of Government Efficiency (DOGE), claiming $160 billion in savings by terminating wasteful contracts, like $255 million from 269 contracts, and modernising IT systems, such as digitising the OPM retirement process. DOGE also cleaned Social Security records and supported voter integrity measures.' Grok added, 'However, these efforts face criticism for potential costs of $135 billion in lost productivity, legal challenges, and service disruptions. Concerns about Musk's business conflicts and political motivations persist, with public opinion divided, as 54% view him unfavourably.' Read | Elon Musk leaves Trump administration LIVE: Tesla chief says '… time as a Special Government Employee comes to an end' Another user praised Musk for his contributions to the United States of America, saying: 'I honestly don't know if we could've saved America if @ElonMusk hadn't spent $40 billion to buy Twitter and rescue free speech.' This particular user's take? 'He absolutely deserves the Presidential Medal of Freedom.' One of them asked, 'What was achieved other than Elon breaking things and leaving them broken?' while another commented, 'This has damaged your brand beyond anything you can imagine.' A third user said: 'DOGE has been a failed endeavour. Whether it's family, business or public, it's hard to cut the money strings after you have started them.'
Yahoo
an hour ago
- Business
- Yahoo
Cory Booker Is Turning His Record-Setting Senate Speech Into a Book
If you purchase an independently reviewed product or service through a link on our website, Rolling Stone may receive an affiliate commission. Cory Booker is turning his record-setting Senate speech into a book. The New Jersey senator, who spoke for just over 25 hours on March 31 into April 1, railed against the Trump administration's threats to Social Security, Medicare, and Trump's attacks on the judiciary in a speech that set a record for the longest Senate floor speech in history. More from Rolling Stone F1 Star Charles Leclerc's New Headphones Collab Sold Out In Minutes - Here's How to Get An Almost Identical Pair Adults Are Using These Coloring Books to Help Reduce Anxiety - Here's Where to Buy Them Online for Under $7 Indiana Fever vs. Washington Mystics Livestream: How to Watch the WNBA Game Online The book, titled Stand, was announced on May 28 by The St. Martin's Publishing Group. It will be published on Nov. 11, 2025, and is available for preorder now. According to the publisher's notes, the book 'expands on' Booker's speech and 'offers a compelling vision for the future to readers who are eager to make a difference.' $30.99 Buy Now On Amazon Buy Now at barnes&noble Notably, Booker's speech surpassed a record previously set by Strom Thurmond, who filibustered the Civil Rights Act of 1957 for just over 24 hours. However, Booker's speech was not a filibuster because it was not intended to stop a specific piece of legislation. Instead, Booker spoke broadly against the Trump administration's policies. Booker addressed the decision not to target a specific bill in an interview with Rolling Stone in May. 'In the modern Senate, it's very hard to even get control of the floor. I said to my team, 'How did Ted Cruz get control of the floor? How did Rand Paul? Figure out how they got control.' The person in the cloakroom told me, very annoyingly, 'We let [Rand Paul take the floor] because he promised it was only going to be a couple minutes — and he lied through his teeth.… Are you willing to lie to [Senate Majority Leader John] Thune?' I said, 'That's not the way I roll. I'm not going to lie, so let's just let them know that I'm going to take control of the floor and hold it for as long as I possibly can.'' Best of Rolling Stone The Best Audiophile Turntables for Your Home Audio System
CBS News
3 hours ago
- Business
- CBS News
Social Security plans to add artificial intelligence to phone systems, commissioner says
Washington — Frank Bisignano, commissioner of the Social Security Administration, told CBS News that he believes technology, and specifically artificial intelligence, could be the key to improving his agency's customer service, despite recent changes that have prompted concern among some of the nearly 69 million Americans that receive Social Security each month. "We're bringing a massive technology effort to transform the servicing agenda," Bisignano said. "We're gonna bring AI into the phone system...I intend it to be completed this year." The agency gets about 390,000 calls per day, according to SSA data. The average wait time for those calls as of April was 68 minutes, down from 112 minutes in January. "I say, we're gonna meet our beneficiaries where they want to be," said Bisgnano, who was CEO of financial services company Fiserv before being tapped by President Trump in December to lead the SSA. "You want to come into a field office? We we'll always be there. You want to meet us on the web? We will be there. And you want to meet us on the phone, we'll be there." The SSA announced in March that it would require in-person identity checks at field offices for new and existing beneficiaries, with some limited exemptions. Following backlash to the move, however, the White House in April backed off that requirement, saying that seniors and other recipients could verify their identities over the phone. About six million seniors would have faced a 45-mile trip to reach an SSA office, according to an analysis from the Center on Budget and Public Policies. There are questions about how Bisgnano plans to implement changes despite a smaller workforce. In February, the agency said it intended to cut its staffing levels down from about 57,000 to 50,000, a 12% reduction. The website for the White House's Elon Musk-led Department of Government Efficiency, or DOGE, has identified more than a dozen field offices for closure. Bisignano argues that the cuts won't prevent the SSA from increasing its efficiency, which he believes can be achieved "through technology and process engineering." The SSA turns 90 this year, but as the U.S. ages, the gap between benefit payments and revenue is widening. The Congressional Budget Office estimates that by 2033, the fund used to pay retirement and survivor benefits will be exhausted. "There's lots of senators that I've heard from that have all ideas about how to fix it," Bisignano said. "So, we need to just go to work on how to fix it." Bisignano is seeking to reassure Americans who are planning to file for Social Security in 10 years that they will still receive their full benefits, not just a portion of them. "Everybody is committed to Social Security for the rest of time."
USA Today
5 hours ago
- Business
- USA Today
Elon Musk is frustrated with Republicans wasting DOGE's effort to cut. So am I.
Elon Musk is frustrated with Republicans wasting DOGE's effort to cut. So am I. | Opinion It took him a few months, but Elon Musk now knows what I've always known. Congress is afraid to truly cut our spending. Show Caption Hide Caption Elon Musk 'disappointed' with Trump's tax bill Elon Musk told CBS he is 'disappointed' with President Donald Trump's 'big, beautiful' tax bill. I wrote a column in March arguing that Elon Musk's DOGE efforts to cut federal spending would accomplish nothing as long as Congress continues to spend money we don't have. It seems that Musk now agrees with me. 'I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,' Musk said in a recent interview, referring to the so-called "Big Beautiful Bill", which is set to add $3.3 trillion to the deficit if passed. It took Musk just four months of being a part of the government to realize how futile the effort of cutting spending truly is. Regardless of what the executive branch does, Congress will only exacerbate the problem. Musk sees that the government can't be fixed without Congress Balancing the federal budget is a noble goal. As much as I agree with the mission of DOGE in theory, I realize that in practice, it can do very little for balancing the budget without Congress. Musk and DOGE could not cut Social Security, Medicare, Medicaid or defense spending – the areas that actually make up significant portions of the U.S. budget. In a perfect world, DOGE should operate as an advisor to Congress, sending cuts that cannot be accomplished through executive power for legislators to slash. The GOP is waking up to that fact, as it was reported on May 28 that the White House plans to send a package of cuts to Congress for approval soon. Opinion: Trump's administration is off the rails because it's unqualified to do the job However, none of this matters so long as Congress continues to spend. I do think Musk is genuine in his aim of cutting government waste, and I imagine it is rather disheartening for him to watch his work be outspent by a factor of trillions. Congress has no incentive to cut spending Congress scores points by claiming to be against reckless spending during election season, but never has the political courage to cut programs once they are in office. It is far more desirable for them to try to buy votes than it is for them to yank back federal dollars from people. If nobody is willing to take the political hit of clawing money back, then deficit spending will only increase. The Trump-endorsed 'Big Beautiful Bill' is estimated to add $3.3 trillion to the federal deficit over the next ten years. If you compare that with the money Musk saved from DOGE, experts have only been able to pinpoint roughly $2 billion in actual savings. It appears that DOGE, functionally, was a charade and has been used by Republicans to act as if they are cutting spending while actually worsening the deficit. Just two Republican House members could muster up the courage to vote against the legislation on the grounds of deficit spending. While the Senate is reportedly planning significant changes to the legislation, the fact that it has reached this point is disheartening. Only Congress can solve the spending problem, but to do so would require our elected representatives to grow a spine. The much more likely outcome is that we continue to spend to the point that our descendants are saddled with an insurmountable national debt. The GOP used Musk to pretend they actually care about spending, rather than actually accomplish a balanced budget. It's a shame his seemingly genuine effort is to be wasted. Dace Potas is an opinion columnist for USA TODAY and a graduate of DePaul University with a degree in political science.
Forbes
6 hours ago
- Business
- Forbes
Peaceful Retirement Starts With Rethinking Women's Retirement Planning
Senior women friends playing cards Retirement planning isn't one-size-fits-all—and for women's retirement planning. Many women face longer retirements, more career breaks, and bigger financial gaps than men. Yet most retirement advice still assumes equal experiences for all genders. If you're a woman—or advising one—you need a plan that considers these real-life differences. Here's how to build a retirement strategy that fits. On average, women outlive men by about five years. But that's just the average. Take my aunt, for example, she lived 29 years after her husband passed away. That's almost three extra decades of bills, healthcare, and rising living costs. My 96-year-old mother has lived 20 years past my dad. There was a nearly 8-year age gap between them which also adds to the potential challenges for married women. Many advisors use calculators based on the average lifespan. But if you're a woman, that could leave you seriously underfunded. The earlier you start planning, the better prepared you'll be to enjoy those extra years. These issues are multiplied in lesbian couples where both are expected to live long lives. Reassess your retirement expectations every few years to determine what changes in savings, investment target and expected retirement date. Retirement planning is also tricky when you're Single or widowed. Without a spouse's income or survivor benefits, your personal savings do all the heavy lifting. Lifetime income options like Social Security, workplace pensions and personal pensions (lifetime annuities) are critical pieces to manage. You can create a personal pension by funding them with 401(k), IRA, Roth accounts or from savings and brokerage accounts. For single women, it's crucial to get serious about estate planning—things like financial powers of attorney, healthcare directives, and living wills. The financial powers of attorney and healthcare directives are about your retirement years and not your death. Who will make decisions for you when you can't make them like you used to? Think of 'living' estate planning as self-care for your future self. Many women take time off to care for children or aging parents. These gaps often mean lower lifetime earnings, reduced Social Security checks, and missed personal and matching retirement contributions. But you can increase your contributions if your income allows through work. In 2025, if you're fifty or older, you can contribute: Note that the workplace plans over age 50 catch-up contribution is almost the total of IRA limit including the $1000 catch-up contribution. Complicating retirement savings further is the fact that there are income limits for the IRA and Roth IRA. 2025 IRA Phase-Out Limits In addition, these tax-advantaged savings, you can save money into simple savings, brokerage accounts and tax deferred annuities. How much you need to save will depend on the future life you want to live, your risk tolerance or risk need, and your current resources. Many women also invest more cautiously than men. While caution has its place, being too conservative means your money won't grow as much over long, time horizons. This may leave a woman with not enough to support her desired retirement lifestyle. Woman should search for resources to learn more about investing. A behavioral smart and empathetic investment adviser can go along way in helping you stay invested if your risk need is beyond your risk comfort. Social Security is often a major piece of a woman's retirement income. But the rules are complex—especially if you're divorced or widowed. Also, Medicare can also add to the complexity, especially with its potential Income Related Medicare Adjustment Amount. That is essentially an additional tax on Medicare for those that trigger it. Spousal benefits, survivor benefits, and delayed retirement credits can all impact what you receive. Knowledgeable advisers must take the time to explain these options clearly, so you can make choices that fit your unique situation. Many investment advisers are not truly knowledgeable about this area, as usually they are not compensated for it. Ask questions to find out if the one you are working with today is knowledgeable. If not, you can find one that helps you in this area only, so that you don't have to disrupt your primary invest adviser relationship. Many women have financial worries tied to emotions—fear, guilt, or uncertainty. Planning for retirement is as much about peace of mind as it is about math. That's why finding the right advisor matters. A good financial planner and or investment adviser should create a space where you can ask any question without judgment and get clear, personalized answers. Moreover, you deserve a financial plan that understands your values—not just your numbers. Retirement planning can feel overwhelming. But you don't have to figure it all out yourself. I am partial to those financial and investment advisers that have the Certified Financial Planner™ (CFP®) designation. Among those, look for those who understands the challenges women face. They can help you: If you already have an advisor and still feel confused or unheard—it may be time to get a second opinion. Women face distinct challenges from longer life expectancies to career interruptions and income disparities making women's retirement planning unique. By acknowledging these factors and working with advisors who understand them, women can take proactive steps toward a secure financial future. Starting early, staying informed, and seeking personalized advice are key strategies for overcoming these challenges.
