New York (CNNMoney) – Illinois lawmakers approved a landmark pension reform package Tuesday that would cut retirement benefits for teachers, nurses and other retired and current state workers.
The legislation comes after years of debate on how to fix the state's ailing retirement system - considered the most troubled in the country.FULL STORY
New York (CNNMoney) – Many Americans browsing the Obamacare exchanges are finding the Affordable Care Act isn't living up to its name.
It's not just premiums that are bringing up the costs. Consumers are finding high deductibles, co-payments and other expenses that make the Obamacare policies seem more like catastrophic plans than comprehensive insurance.FULL STORY
New York (CNNMoney) – President Obama now says that it's okay with him for people to keep their individual health insurance plans for another year. But he doesn't have the power to renew their policies.
Under attack after insurers terminated non-Obamacare compliant policies for millions of Americans, Obama said Thursday the administration will allow state insurance commissioners and insurers to extend current policies through 2014 even if they don't meet all the health reform requirements.FULL STORY
New York (CNNMoney) - Let the grilling begin: Janet Yellen heads to Capitol Hill this morning to face the Senate Banking Committee in her confirmation hearing to serve as the next head of the Federal Reserve.
In opening statements released ahead of the hearing, Senator Tim Johnson, chairman of the committee, said he is "excited" to cast his vote in her favor.FULL STORY
New York (CNNMoney) - Some 106,185 people signed up for Obamacare in its first month of operation, a period marred by major technological problems with both the federal and state enrollment websites.
Fewer than 27,000 Americans selected an insurance plan through the federal healthcare.gov site, which is handling enrollment for 36 states, according to figures released Wednesday by the Obama administration. The site is still far from fully operational, leaving tech experts racing to get it working by month's end, as the administration promised.FULL STORY
New York (CNNMoney) – What shutdown? Job growth unexpectedly surged in October, even as the federal government closed its doors for 16 days.
The U.S. economy added 204,000 jobs, according to the Bureau of Labor Statistics. That was well above economists' expectations. There was more good news about hiring during the late summer. Revisions showed an extra 60,000 jobs were created in August and September.FULL STORY
New York (CNNMoney) – If you're able to connect to the Obamacare website and enroll - a big if - healthcare.gov actually isn't the worst website in the world.
I got through after a week of trying, and found signing up for Obamacare to be a fairly straightforward process. (I get insurance through Time Warner, so I didn't actually have to seal the deal).FULL STORY
New York (CNNMoney) – Forget a grand bargain. Most people will be relieved if Congress can just agree on funding for fiscal year 2014, which started three weeks ago.
Lawmakers have until mid-January, when the current round of temporary government funding expires, to figure it out. If they don't, the country could be at risk of yet another shutdown.FULL STORY
New York (CNNMoney) – Only days after the debt ceiling and government shutdown showdown ended, Treasury Secretary Jack Lew promptly waded into the next fiscal fight: forced spending cuts known as the sequester.
He laid out the Obama administration's case in an op-ed for The International New York Times that the failure to replace the across-the-board "blunt spending cuts" would hurt the U.S. economy.FULL STORY
New York (CNNMoney) - Al Gore may not have invented the Internet, but he did try to buy one of its most popular social networks.
The former vice president told Bloomberg Television on Thursday that he and former Current TV co-founder Joel Hyatt tried to buy Twitter.FULL STORY