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In 2013, Social Security is projected to begin paying out more than it's taking in. And unless the system is changed, it may run out of money in 2030. The Cato Institute, a libertarian think tank, says Congress must privatize the retirement program to avoid insolvency. Critics say start-up costs would be too high. (Story, Page 1.)
Maryland and Wisconsin are the latest states to require welfare recipients to work. On Monday, the Clinton administration approved the two states' new welfare plans. The administration has now approved 36 state welfare programs. In addition to requiring work, Maryland will no longer increase a family's cash benefits for children conceived while parents are on welfare. Wisconsin will also require applicants to talk to a financial planner about alternatives to welfare.
The gap between rich and poor families with children in the US is the largest among 18 industrial nations, says a survey released Monday by Luxembourg Income Study. It found the average income for an affluent US family is $65,536; the average for a poor family is $10,923. The difference is $14,000 more than the country with the next largest gap, Switzerland.
Hurricane Felix missed Bermuda by 75 miles Monday. But its winds were enough to entice tourists and locals to the island's south shore for a view of the spectacular waves. No major damage was reported, but power was out on much of the island. Yesterday, Felix was moving toward Cape Hatteras, N.C.
He started as a Hollywood tour-bus guide, but yesterday Michael Ovitz was named president of the Walt Disney Company. Ovitz was already Hollywood's top dealmaker. Now, as second-in-command of the world's largest entertainment empire, he will make Disney one of the best-connected studios.
Ted Turner is moving to bid for CBS, industry insiders said Monday. The CNN owner is reportedly talking with potential investors - including Microsoft chairman Bill Gates. He is also talking with Turner shareholder Time-Warner, which blocked his previous efforts to buy a network.
The Labor Department is seeking $5 million from clothing manufacturers in back pay for Thai laborers. The women, whose ''sweatshop'' was discovered last week, were allegedly threatened with death if they stopped producing garments for such stores as Mervyn's and Neiman-Marcus. (Story, Page 1.)
Five cadets - including Shannon Faulkner - became ill Monday, the first day of ''hell week'' at the Citadel. Temperatures hit 100 degrees as cadets marched, shouted, and saluted. Today, Faulkner must meet army physical-fitness standards for women, including running three miles in 18 minutes, 54 seconds.
Oklahoma bombing suspect Timothy McVeigh pleaded innocent yesterday to an 11-count indictment. Fellow suspect Terry Nichols also was to be arraigned. On Monday, Oklahoma's chief medical examiner confirmed that a leg found at the bomb site does not belong to any of the known victims. McVeigh's lawyer has suggested that the leg belongs to the ''real bomber.''
The Pentagon took disciplinary action yesterday in one of the worst friendly fire incidents in US history. Seven Air Force officers involved in the accidental shooting of two US Army helicopters in Iraq last year are receiving administrative punishment, which could end their military careers. Twenty-six people died in the incident.
Congressman Reynolds testified Monday that he never had sex with an underage campaign worker, Beverly Heard. He contested nearly every point she made at the trial. He was to be cross-examined yesterday.
Amid regional tension over Iraqi defections to Jordan last week, more than 3,000 US troops arrived in Jordan yesterday for scheduled joint military exercises. President Clinton has pledged to safeguard Jordan if Iraq threatens it. The US has dispatched an aircraft carrier to the Israeli coast, and a second carrier in the area has planes that could attack Iraq from the southeast. Israel has agreed to a US request to let planes fly over the country should Iraq attack Jordan. Two of Saddam Hussein's son-in-laws, who were top government officials, defected to Jordan last week.
Chechen rebels reportedly agreed to begin laying down weapons today, just hours after Russian President Yeltsin threatened military measures unless they disarmed.