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WATCH LIVE: Rep. Barney Frank announces retirement

Rep. Barney Frank (R-MA) was expected to announce his retirement from Congress at a press conference Monday. The event is scheduled to begin at 1 p.m. ET. Watch this live video from MSNBC, broadcast Nov. 28, 2011. Visit msnbc.com for breaking news, world news, and news about the economy…

Basketball star Yao Ming retires

Basketball star Yao Ming announced his retirement on Wednesday after a trailblazing career that made him China’s best-known athlete and helped spur the game’s global growth. The towering 2.29m (7ft 6in) star made the announcement, which had been widely expected, during a press conference in his home city of Shanghai…

Rebels: If Gaddafi quits, we will let him stay in Libya

BENGHAZI, Libya (Reuters) – Muammar Gaddafi is welcome to live out his retirement inside Libya as long as he gives up all power, Libya’s rebel chief told Reuters on Sunday in the clearest concession the rebels have so far offered. Gaddafi has fiercely resisted all international calls for him to…

U.S. hits debt limit, starts dipping into pensions

(Reuters) – U.S. Treasury Secretary Timothy Geithner told Congress he would start tapping into federal pension funds on Monday to free up borrowing capacity as the nation hits the $14.294 trillion legal limit on its debt. The U.S. Treasury will issue $72 billion in bonds and notes on Monday, pushing…

Shock employment figures: Fewer than 46% of Americans have jobs

The percentage of Americans who have jobs has fallen to the lowest point in three decades and now hovers just above 45 percent of the total population, according to an analysis of labor data published by USA Today. The report, based on figures provided by the Census and the Bureau…

U.S. millionaires say $7 million not enough to be rich

NEW YORK (Reuters) – A million dollars ain’t what it used to be. More than four out of ten American millionaires say they do not feel rich. Indeed many would need to have at least $7.5 million in order to feel they were truly rich, according to a Fidelity Investments…

Walker’s anti-union posture sends retirement rate soaring

Record numbers of public employees in Wisconsin are planning to retire because of fears that they could lose promised benefits if they don’t. The Boardman law firm, which advises unions on contract matters and benefits, sent a letter union lawyers last week warning them that the state could revoke certain…

Jon Kyl, second-ranked Senate Republican, retiring in 2012

WASHINGTON – Sen. Jon Kyl of Arizona, the second highest-ranking Republican in the chamber, announced Thursday that he will retire in 2012. Kyl, the Minority Whip, has served in the US Senate since 1995, and before that held a House seat in Arizona for eight years. “There is no other…

Boehner: I ‘made a mistake’ by advocating raising the retirement age

WASHINGTON – House Speaker John Boehner (R-OH) walked back his prior remarks that Social Security benefits should be cut by raising the retirement age, but added that the idea still “ought to be on the table.” “I made a mistake when I did that because I think having the conversation…

Democratic Senator Kent Conrad to retire

Sen. Kent Conrad, a Democrat from North Dakota, will announce his retirement today, according to two major media outlets. The Washington Post‘s Chris Cillizza first reported the news Tuesday morning based on knowledge from “two informed Democratic sources,” and Conrad soon confirmed it in an e-mail to the Associated Press.…

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