China 'Strongly' Condemns US Strike on Iran's Nuclear Program
China has criticized the US strike on Iranian nuclear facilities and reiterated that it's willing to join international efforts to restore peace in the Middle East. Bloomberg's Minmin Low reports on the latest. (Source: Bloomberg)
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Hamilton Spectator
42 minutes ago
- Hamilton Spectator
Tarnished by Oct. 7, Netanyahu's legacy may be reshaped by war with Iran
TEL AVIV, Israel (AP) — In the days after Hamas attacked Israel on Oct. 7, 2023, Prime Minister Benjamin Netanyahu seemed a shellshocked shadow of himself. He looked diminished and downtrodden by the surprise assault that created a national emergency and caused his public support to plummet. Now, as Israel faces another unprecedented crisis in a war with Iran, Netanyahu appears rejuvenated. With the U.S. lending its support against a threat he has devoted his life to confronting, Netanyahu is demonstrating a resurgent confidence that could signal a new turning point in his lengthy political career. Even as Iranian missiles pound Israeli cities, Netanyahu, 75, has the chance to salvage his sagging political fortunes and reshape a legacy punctured by Hamas' attacks, a corruption trial and a history of divisive rule. If he succeeds, it will cement his reputation within Israel as a political wizard who can rise from the ashes. 'Netanyahu has proven that he is a phoenix,' said veteran Israeli journalist and Netanyahu biographer Mazal Mualem. Netanyahu's troubled legacy is granted a lifeline The war is far from won. Israel is still vulnerable to Iranian attacks, and whatever political boost Netanyahu gains from the latest developments could dissipate by elections scheduled for next year. He is the same polarizing leader he was yesterday. Internationally, he faces an arrest warrant for charges of war crimes in Gaza. He is widely reviled across the Arab world. And after nearly two years of regionwide conflict, many critics see him as a warmonger responsible for tens of thousands of deaths in Gaza and elsewhere in the Middle East. But domestically, where Netanyahu's eyes are always focused, his legacy has been granted a lifeline. Many Israelis are attuned to Netanyahu's campaign against Iran's nuclear program, which they view as a major threat to their country and are therefore relieved by the direct involvement of the U.S. military. 'Netanyahu is seen as a very divisive and destructive leader. He is seen as someone who talks a lot and doesn't do anything,' said Aviv Bushinsky, a former Netanyahu aide. 'Today, Netanyahu redeemed himself, big time.' In an early morning video statement after the U.S. strike on Iran's nuclear facilities, Netanyahu could barely contain a smile as he thanked President Donald Trump. He said the intervention would 'change history.' It's a stunning turnaround for an Israeli leader who critics and analysts largely wrote off in the days after Oct. 7, when he presided over the deadliest attack in Israel's history. Many hold Netanyahu personally responsible for overseeing policies that enabled Hamas to retain power in Gaza for many years and build up a formidable arsenal. Netanyahu has been buoyed occasionally since then by military successes against Hamas and the Iran-backed Hezbollah in Lebanon. But with the Gaza war dragging on with no end in sight, and dozens of Israeli hostages still in captivity, his approval ratings have remained low. The week-old assault on Iran, highlighted by Sunday's U.S. attack, grants Netanyahu a chance for salvation. Netanyahu's yearslong focus on Iran The war caps a yearslong focus — some would say obsession — by Netanyahu on Iran and its nuclear program. Since his first term as prime minister in the 1990s, and throughout his current, nearly uninterrupted 16-year rule, he has made challenging Iran's nuclear program his life's work. Netanyahu has long portrayed Iran as an existential threat — pointing not only to its nuclear program, but also its development of long-range missiles aimed at Israel and support for hostile militant groups on Israel's borders. Iran became a repeated theme in his speeches to the Israeli and international public. He famously hoisted a cartoon bomb from the dais of U.N. General Assembly as he accused Iran of developing a nuclear weapon. Iran insists the program is for civilian purposes. At the same time, Netanyahu has made no mention of Israel's own widely suspected nuclear weapons arsenal. Netanyahu took significant diplomatic risks to pursue his crusade, including with a 2015 speech to Congress that was organized by Republican lawmakers, angering the Obama administration. During the speech, he railed against a U.S.-led deal on Iran's nuclear program just as negotiators were wrapping up its details. Trump unilaterally withdrew the U.S. from the agreement during his first term. Some critics say that it was Netanyahu's laser focus on Iran, and the military and intelligence resources devoted to it, that blinded the Israeli leader and the defense establishment to the threat Hamas in Gaza. Hamas' attack is a stain on Netanyahu's legacy Hamas' attack, in which 1,200 people were killed and 251 taken hostage, blindsided Israel. Netanyahu, who likes to portray himself as a security hawk and the only true guardian of Israel, is seen by many as having promoted a failed strategy in the years preceding the Oct. 7 attack by sending huge amounts of aid into in Gaza under the misconception that Hamas was deterred. In fact, the Palestinian militant group would stage a brutal assault that would crush Israel's vaunted defenses and change the course of history. In the aftermath of Hamas' attack, Netanyahu's public support plummeted. Netanyahu shrugged off accountability for Hamas' attacks, pointing a finger at his security chiefs and rejecting demands for a public inquiry into the failures. He says he will answer tough questions about his role after the war, now in its 21st month. Any political boost from the war could fade by elections Netanyahu's work is not done. The war in Gaza grinds on, and Netanyahu still dreams of seeing a normalization deal between Israel and Arab powerhouse Saudi Arabia as part of his legacy. The question remains whether Netanyahu will rebound politically from the Iran war. Polls taken last week showed that Netanyahu would still struggle to form a coalition if elections were held today. Even if he gets a bump from Sunday's U.S. attack, it's not clear how long that might last. Bushinsky compared Netanyahu's potential political predicament to a world leader he likes to compare himself to, Winston Churchill, who, after leading the allies in triumphantly defeating the Nazis in World War II, did not get reelected in a 1945 vote in part because public priorities shifted dramatically. 'Bibi may be 'King of Israel,' Bushinsky said, using a nickname for Netanyahu popular among his supporters, 'but even a king has his limits.' Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
an hour ago
- Yahoo
Social Security Benefits Are an Estimated 8 Years Away From Being Slashed -- and the Cuts Are Even Bigger Than Initially Forecast
Most retirees rely on their Social Security income, to some varied degree, to make ends meet. The 2025 Social Security Board of Trustees Report is calling for an even steeper reduction to retired-worker and survivor benefits come 2033 than was forecast last year. Ongoing demographic shifts are (mostly) responsible for Social Security's financial woes. However, the longer Congress waits to implement reforms, the costlier it'll be on working Americans. The $23,760 Social Security bonus most retirees completely overlook › Social Security represents more than just a monthly check for most retirees. To many, it's a financial lifeline that surveys and studies have shown they'd struggle to make do without. For 23 consecutive years, national pollster Gallup surveyed retirees to determine how important their Social Security income was to covering their expenses. Every year, no fewer than 80% of respondents noted it was necessary, in some capacity, to cover their costs. A separate analysis from the Center on Budget and Policy Priorities found that Social Security pulled 22 million people above the federal poverty line in 2023, including 16.3 million adults aged 65 and above. If the Social Security program didn't exist, the poverty rate for this group would be nearly four times higher (37.3%, estimated) than it was in 2023 (10.1%). For lawmakers, ensuring the financial health of Social Security should be of paramount importance. But based on the latest Social Security Board of Trustees Report, America's leading retirement program is on anything but stable ground. In January 1940, the Social Security program doled out its very first retired-worker benefit. Since then, the Social Security Board of Trustees has published an annual report intricately detailing how the program generates income, as well as where every dollar in outlays ends up. But what tends to garner even more attention is the Trustees' forecasts of what's to come for Social Security. Specifically, the short- (10-year) and long-term (75-year) projections, which are regularly updated to reflect fiscal policy changes, monetary policy shifts, and an assortment of demographic adjustments. Last week, the 2025 Social Security Board of Trustees Report was released -- and it contained some rather chilling news for current and future retirees. To begin with, the program's long-term unfunded obligation continues to widen. Every annual report since 1985 has pointed to a 75-year funding deficit between projected income to be collected and forecast outlays, which includes annual cost-of-living adjustments (COLAs). In present-day dollars, discounted to Jan. 1, 2025, this 75-year deficit stood at a staggering $25.1 trillion. However, the more worrisome news is the short-term forecast for the Old-Age and Survivors Insurance trust fund (OASI). This is the fund responsible for doling out monthly benefits to retired workers and survivors of deceased beneficiaries. Beginning in 2021, the OASI began outlaying more in benefits than was being collected in income. This outflow from the OASI's asset reserves is expected to grow with each passing year. By 2033, the OASI's asset reserves are projected to be completely exhausted. Before going any further, let's make clear that the OASI doesn't need a penny in asset reserves to remain solvent and continue to pay benefits to eligible recipients. With the lion's share of Social Security income collected from the 12.4% payroll tax on wages and salary, there will always be income to disburse to qualified beneficiaries. But if the OASI's asset reserves are depleted in eight years, as the latest Trustees Report predicts, the current payout schedule, inclusive of COLAs, won't be sustainable. The Trustees are forecasting a 23% cut to payouts may be necessary for retired workers and survivor beneficiaries by 2033 -- this is up from an estimated 21% cut outlined in the 2024 Trustees Report -- to sustain monthly benefits without the need for any further reductions through 2099. With Social Security providing a financial foundation to retirees for more than eight decades, the obvious question for current and future retirees is simple: How did Social Security get into this mess? What can be said with certainty is that "congressional theft" and "undocumented migrants receiving traditional Social Security benefits," which are two common myths/scapegoats mentioned by some people online, are the wrong answers. Rather, Social Security's worsening financial outlook is a function of numerous ongoing demographic shifts, as well as inaction on Capitol Hill. Some of these shifts are well-documented and understood by the public. For example, baby boomers reaching retirement age and leaving the workforce in larger numbers are weighing down the worker-to-beneficiary ratio. Likewise, people are living longer today than they were when Social Security initially began paying retired-worker benefits in 1940. To be somewhat blunt, the program wasn't designed to dish out payments to retirees for two or more decades, as is somewhat commonplace today. But a number of these demographic shifts aren't nearly as visible -- nevertheless, they're playing a key role in weakening the program. For starters, the U.S. fertility rate (i.e., hypothetical lifetime births per woman) hit an all-time low in 2023. A laundry list of factors, ranging from people waiting longer to get married and have children, to concerns about the health of the U.S. economy, have reduced the number of children being born and will, eventually, weigh down the worker-to-beneficiary ratio. Rising income inequality is another issue for Social Security. Based on data from the Social Security Administration, approximately 90% of all earned income (wages and salary, but not investment income) was subject to the 12.4% payroll tax in 1983. By 2023, only 83% of earned income was subject to this program-funding tax. In simple terms, the wages and salaries for high earners have been increasing at a faster pace than the National Average Wage Index, which determines the upper range of earned income exposed to the payroll tax. In short, more earned income is escaping the payroll tax as time passes. Insufficient net migration into the U.S. has been problematic, too. Social Security relies on younger people migrating to the U.S. and contributing to the program for decades via the payroll tax before earning a retirement benefit for themselves one day. Since 1997, the net migration rate into the U.S. has dropped off dramatically. The final culprit is the aforementioned lack of action by lawmakers in Washington, D.C. Although plenty of bills have been proposed, the cavernous ideological gap between Democrats and Republicans on Capitol Hill as to how best to strengthen Social Security has led to an ongoing stalemate. If there's a silver lining here, it's that lawmakers do have a knack for coming to Social Security's rescue in the 11th hour. But the longer Congress waits to tackle this issue, the costlier it's going to be on working Americans to fix. If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these Motley Fool has a disclosure policy. Social Security Benefits Are an Estimated 8 Years Away From Being Slashed -- and the Cuts Are Even Bigger Than Initially Forecast was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
an hour ago
- Washington Post
As it attacks Iran's nuclear program, Israel maintains ambiguity about its own
TEL AVIV, Israel — Israel says it is determined to destroy Iran's nuclear program because its archenemy's furtive efforts to build an atomic weapon are a threat to its existence. What's not-so-secret is that for decades Israel has been believed to be the Middle East's only nation with nuclear weapons , even though its leaders have refused to confirm or deny their existence.
