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This R&D provides resources on Social Security. The federal age insurance program recently celebrated its eightieth anniversary, but does so under a cloud of anxiety about whether older Americans can continue to expect existing levels of benefits and how the system can be preserved for younger generations. Despite these fears, though, Social Security remains one of the most popular federal programs, with 82% of Americans saying that Social Security contributions were important for the “public good.”
Social Security is more important than a lot of people think http://t.co/BhIZP0GuBv pic.twitter.com/0M2Wv00jKR
— Mother Jones (@MotherJones) August 17, 2015
Social Security faces serious challenges, and it’s our duty to make sure people get the help they’ve been promised: http://t.co/kYt68G61rM
— Paul Ryan (@RepPaulRyan) August 17, 2015
As Social Security turns 80, more seniors are returning to the workforce. Is that a bad thing? http://t.co/rkQLViA4ys pic.twitter.com/EJ1tMD51rY
— The Atlantic (@TheAtlantic) August 14, 2015
If extempers followed global economic news over the past week, they probably remember that China’s currency devaluation was a significant topic. On Tuesday, the People’s Bank of China (PBoC) announced more market-friendly reforms that will allow the nation’s currency, called the renminbi (RMB) or the yuan, to be managed less arbitrarily. The effect of this market-based move was a sudden decline in the value of the RMB, a currency that some market analysts argue has been overvalued for some time. The 1.9% decline versus the American dollar last Tuesday was welcomed by some economists, who say that it will provide a valuable market correction, but China also came under fire from American politicians and Western economists, who allege that China’s devaluation is designed to help boost the nation’s ailing exports. The move has provided ample fodder for Republican presidential frontrunner Donald Trump, who has made anti-China sentiment a large part of his campaign. In addition, China’s devaluation may contribute to more deflationary pressures in Western economies and complicate the Federal Reserve’s decision about whether to raise interest rates by the end of the year.
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Every few decades, there is a controversial personality that seeks the White House outside of the confines of conventional politics. In 1912, former President Theodore Roosevelt sought the presidency on the Progressive Party ticket, splitting the Republican vote and enabling Democratic candidate Woodrow Wilson to move into 1600 Pennsylvania Avenue. In 1948, Strom Thurmond and Henry Wallace came close to preventing incumbent Harry Truman from winning the presidency as they sought the votes of Southern segregationists and progressive Democrats, respectively. In 1968, Alabama Governor George Wallace ran on a states’ rights and “law and order” platform that carried five states and nearly fourteen percent of the national vote. In 1992 and 1996, billionaire Ross Perot tapped into American frustrations over the economy to capture sizable percentages of the popular vote and arguably help Democrat Bill Clinton win those elections. And in 2000, Green Party candidate Ralph Nader cost Democratic candidate Al Gore the presidency by taking away crucial votes in Florida.
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