| Volume 62 Number 8 |
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The People’s Lawyer’s Tip of the Day
In Texas, your landlord must supply you with a working smoke detector. But from that point on, it is up to you to change the battery. Click here for more.
Social Security to Run Short Sooner Than Expected
According to program trustees, two of the countries largest entitlement programs, Medicare and Social Security, will run out of funding sooner than expected. The programs make up nearly 9% of the nation's economy and are expected to approach 12% by 2035. Lower birth rates are reducing the number of contributors to the system. When Baby Boomers retire, the burden on the system may become unbearable. According to current forecasts, Social Security will be able to pay out 100% of benefits through 2026, a year earlier than previously reported. On the other hand, Medicare only has resources to pay full benefits through 2024. Costs of both programs are expected to rise. Can anyone save the programs before they run out of resources? Click here for more.
Netflix Accounts for 30% of Online Traffic
What is the largest source of downstream internet traffic in North America? According to a recent report from Sandvine, nearly 30% of all downstream internet traffic originates from Netflix video streaming, a 21% increase since last fall. At the current rate, Real-Time Entertainment could make up 60% of all internet traffic in North America by the end of the year. What does this mean for cable companies? Click here for more.
Your Money
What if Social Security no longer exists when you retire? Click here for more.
For the Lawyers
Debt Collector’s letter does not threaten legal action or review in violation of FDCPA. The District Court in Minnesota found that a collector’s letter did not misrepresent that the claim had been reviewed by an attorney or threatened legal action. The court held that when the letter was read in full, the language found objectionable did not convey the threats alleged by the consumer. Click here for more.