President Trump’s advisor Elon Musk went on TV the other day to say he’d cut up to $700 billion in fraud and waste from Social Security, Medicare, and Medicaid. He can’t. The inevitable result: He’ll have to either slash benefits for program recipients or fall far short of his goals for cutting government spending. Or, perhaps, both. The Trump White House insists Musk will cut only waste and fraud and not hurt program participants. But that’s equally unlikely. Where The Money Is To understand why, take a close look at these three programs: Social Security benefits go to individual older…

Your money never sleeps. Before the world wakes, artificial intelligence (AI) driven systems are already scanning markets, seizing opportunities, and securing profits. This isn’t the future—it’s happening now. AI and blockchain—the twin engines of autonomous finance—aren’t just digitizing money; they’re rewiring finance itself. Blockchain is the trust engine, enforcing transparency and enabling atomic settlement—no middlemen required. AI is the intelligence engine, continuously learning, predicting, and executing trades in real time through autonomous agents. These agents optimize capital flows with unmatched speed, but their rapid evolution introduces structural risks—algorithmic instability, security vulnerabilities, regulatory blind spots, and the potential for cascading failures…

Even in the world of ransomware attacks, the 2023 ransomware attack on MGM Resorts was exceptional in many ways. Personal information of 37 million people was compromised in the data breach which was perpetrated on September 9, 2023 and was discovered by MGM the next day. MGM has resorts in the United States in Las Vegas, Atlantic City and Detroit as well as resorts outside of the United States in China and Japan. Las Vegas MGM resorts include the Bellagio, Mandalay Bay, Mirage and Luxor hotels. The ransomware attack affected 30 MGM Resort properties causing immediate tremendous disruption that lasted…

Social Security Overpayment Introduction In a move that could affect millions of Americans, the Social Security Administration is tightening its rules on Social Security overpayment. Starting March 27, beneficiaries who have been accidentally overpaid may see 100% of their monthly Social Security check withheld until the debt is recovered – a drastic jump from the previous 10% cap on withholdings​. This stricter clawback policy applies to Social Security retirement, survivors, and disability benefits and could leave some people with no benefit payment in the interim. The change has sparked concern among advocates and lawmakers, who fear it will cause severe…

Imprint’s cloud-based ledger system allows retailers to micro-target rewards. Does it have a shot against big branded-card issuers like Synchrony and Capital One? By Jeff Kauflin, Forbes Staff Having cycled through jobs as a corporate lawyer, financial services consultant at McKinsey and vice president of operations at WeWork, Daragh Murphy was determined to do a fintech startup–something, perhaps, to help credit unions get up to date. But in April 2020, he got a call from Gaurav Ahuja, a venture capitalist at Josh Kushner’s Thrive Capital, with an alternative plan. As Murphy tells it, Ahuja said, “We hear you’re working on…

Education Department Massive Layoffs The Education Department is preparing to lay off roughly half of its employees, according to multiple reports, including CNN and ABC News. An internal memo, obtained by CNN, ordered that “all Department of Education offices will be closed” Tuesday evening and Wednesday for unspecified “security reasons,” instructing staff to take their laptops and leave by 6 p.m. By Thursday, the agency plans to resume work with a drastically reduced workforce. “Nearly half of the department is expected to be eliminated,” sources told ABC News, with reduction in force notices expected to go out at 6 p.m.…

Start your kids on the right financial foot by saving for retirement early with a Roth IRA. If your child has earned income, perhaps from a part-time job, they can contribute to a Roth IRA. Even better: the child or teen doesn’t have to part with their hard-earned cash. IRA contributions can come from a parent, grandparent, relative…anyone. While you could open a regular custodial IRA and make pre-tax contributions, since most minors don’t have meaningful taxable income, a Roth IRA is almost always a better savings vehicle. How A Custodial IRA Works A custodial Roth IRA is a regular…

Over the years, I have learned to focus on earnings, interest rates and other market factors when assessing the outlook for stocks, and to avoid letting the Washington DC political scene impact investment decisions. While I believe this has served me well for decades, perhaps the first time in my career I may rethink that philosophy. Wall Street prefers to know what the playing field looks like regarding, trade, taxes, policy, as well as the outlook for corporate earnings and interest rates. With so much uncertainty out of Washington DC these outlooks have become less visible. Even The Federal Reserve…

Student Loan Forgiveness Hoax A viral social media claim alleges that Hope Walz – the daughter of Minnesota Governor Tim Walz and 2024 U.S. vice-presidential candidate – received $82,000 in student loan forgiveness and that her family is worth $138 million. This sensational claim has spread widely online, but it is entirely false​. The story originated from a satirical website and has no basis. Multiple fact-checkers, including Snopes, have debunked the rumor and confirmed that Hope Walz did not get $82,000 in student loan forgiveness. Moreover, as Forbes has reported, Tim Walz’s net worth is closer to $1 million, a…

More than eight million student loan borrowers appear increasingly likely to get kicked out of an affordable income-driven repayment plan in the coming months, jeopardizing their ability to have manageable payments and a pathway to eventual student loan forgiveness. The SAVE plan, a Biden-era income-driven repayment option, was created to provide borrowers with affordable payments (more affordable than other repayment options) and student loan forgiveness after 20 or 25 years, or in some cases, in as little as 10 years. The program was intended to benefit borrowers in other ways, as well, including by ending runaway interest accrual. The SAVE…