President Bush has pushed Social Security reform to the top of his national agenda, suggesting at least partial privatization. It was an ingenious plan at the time of its inception in the 1930's. Workers would pay a tax to benefit those already retired and as subsequent employees retired, the work force would pay taxes to care for them. But now, the retiree-to-worker ratio has skyrocketed, a shift many experts fear bodes ill for those entering the labor market. While some economists call it a crisis of our times, others contend that simple adjustments will right the system for decades to come. Guest host Diana Nyad discusses the possible revamping of Social Security and what that might look like for people of all ages, with economists from Princeton University and the Center for Economic and Policy Research, an analyst from the Cato Institute, a public trustee of the Social Security Fund and a former official of the Federal Reserve.
- Making News: Washington State's Never-Ending Gubernatorial Recount
Six weeks after Election Day, the dead heat for Governor of the State of Washington may be broken. Trailing by only 261 votes, out of 2.9 million cast, Democrat Christine Gregoire had demanded a recount, which left her only 42 votes behind GOP candidate Dino Rossi. Late yesterday, Gregoire took the lead for the first time, by the incredibly thin margin of 8 votes. David Postman has been following the story for the Seattle Times.
- Reporter's Notebook: FDA Approves Macugen for Age-Related Vision Loss
Relief is on the way for Americans who suffer from "age-related macular degeneration," an aging process that can cause blindness. Although last week's Celebrex headlines overshadowed the news, the Food and Drug Administration Friday approved a new drug that has been proven to slow vision loss. Steven Schwartz of UCLA's Jules Stein Eye Institute sits on the Scientific Advisory Board of Eyetech Pharmaceuticals, the company that developed Macugen.
Guest host Diana Nyad
holds the world record for the longest swim without the aid of a cage -- from Bimini to Florida, 102.5 miles! She was inducted into the International Swimming Hall of Fame
in 2002. A business sports columnist for Marketplace
, Nyad has served as senior sports correspondent for Fox News
, and hosted her own show on CNBC
. She's also the author of three books, Other Shores
, Basic Training
and The Keyshawn Johnson Story
Washington State Democrats on gubernatorial recount
Washington State Supreme Court to hear gubernatorial appeal
King County Elections Division on manual recount of disputed absentee gubernatorial ballots
Seattle Times article updating the Washington gubernatorial race
Social Security Administration (SSA)
President Bush on Social Security reform
Social Security Protection Act of 2004 (HR 743)
FDA approves Macugen
Eyetech Pharmaceuticals on Macugen