Author: Fatima Hussein
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Social Security benefits to jump by 8.7% next year
WASHINGTON (AP) — Millions of Social Security recipients will get an 8.7% boost in their benefits in 2023, a historic increase but a gain that will be eaten up in part by the rising cost of everyday living. The cost-of living adjustment — the largest in more than 40 years — means the average recipient…
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IRS asks Treasury watchdog to probe Comey, McCabe tax audits
WASHINGTON • The IRS commissioner has asked the Treasury Department’s internal watchdog to immediately review the circumstances surrounding intensive tax audits that targeted ex-FBI Director James Comey and former Deputy Director Andrew McCabe, frequent targets of Donald Trump’s ire during his presidency. IRS spokesperson Jodie Reynolds said Thursday the agency has officially referred the matter…
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Crypto meltdown is wake-up call for many, including Congress
NEW YORK • Meltdowns in the cryptocurrency space are common, but the latest one really touched some nerves. Novice investors took to online forums to share tales of decimated fortunes and even suicidal despair. Experienced crypto supporters, including one prominent billionaire, were left feeling humbled. When the stablecoin TerraUSD imploded last month, an estimated $40…
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Biden spins deficit progress in bid to counter critics
WASHINGTON • President Joe Biden on Wednesday highlighted new figures showing the government’s red ink will grow less than expected this year and the national debt will shrink this quarter as he tried to counter criticism of his economic leadership amid growing dismay over inflation going into midterm elections that will decide control of Congress.…
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Biden, Putin children open targets in sanctions over Ukraine
WASHINGTON • In targeting Vladimir Putin’s adult daughters with sanctions over Russia’s invasion of Ukraine, the Biden administration ripped aside the privacy Putin has long maintained over his closest ties — avoiding mention of the two women’s full names in public, and most other references to them as well. The sanctions imposed on immediate family…
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Indiana town removes cross from Christmas tree after ACLU lawsuit
KNIGHTSTOWN, Ind. — Officials in an Indiana town removed a cross atop the town’s Christmas tree because they said they could not win what was expected to be a costly lawsuit filed by the American Civil Liberties Union. “It is with regret and sadness that the Knightstown Town Council has had the cross removed from the Christmas…