President Obama’s budget proposal for fiscal year 2013 provides details for many of the election-year priorities he has been laying out over the past months, including increased taxes on the wealthy and investments in new job-growth projects. The proposal includes $3.8 trillion in total spending and $2.9 trillion in revenues in 2013, leaving a deficit of about $900 billion. A New York Times infographic charts budget details like spending (labor, defense, and agriculture saw lowered funding; energy, education, and Veteran’s affairs saw increases) and revenues (allowing Bush era tax cuts to expire and returning the estate tax to 2009 levels will save $968 billion; reforming the airline passenger fee will save $25 billion).
The deal could have positive and negative effects on life insurers' $422 billion in U.S. debt securities.
Pan-American and Lincoln have both added top IT executives.
Analysts say persistent low rates could force issuers to add to LTCI reserves.
Sponsored by Cetera Financial Group
Do you know the difference between client experience and customer service? The answer is crucial.
Sponsored by T. Rowe Price Investment Services, Inc.
The “reflation trade” appears real, but risks are still elevated.
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