Good morning. Today's issue covers three very different stories with one thing in common — the outcome nobody saw coming. Let's get into it.
On The Money Today:
They maxed out credit cards and waited tables before Pepsi called with $2 billion
The government helped him survive at 17. Now it wants its money back
Congress has a plan to fix Social Security. Researchers ran 10,000 simulations. It works 30% of the time
Let's get into it.
Stephen and Allison Ellsworth maxed out their credit cards, worked nights waiting tables and mixed drinks in a Dallas kitchen before PepsiCo came calling with a nearly $2 billion offer. Now they're being candid about what it actually takes — and the divorce rate among couples who try it should give you pause before you pitch your partner on that business idea.
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Christopher Storm was a teenager surviving on $500 a month in Social Security survivor benefits after his father died. This year, instead of a tax refund, he got a letter saying he was overpaid in 1996 and owes $10,000 back. There's no statute of limitations on how long they can come after you.
Congress has a plan to fix Social Security — borrow $1.5 trillion, invest it in the stock market for 75 years, and hope the returns cover the gap. Researchers ran 10,000 simulations. It works 30% of the time. The other 70% leaves a debt that could hit $129 trillion.
ALSO MAKING THE ROUNDS TODAY
NEWS: Trump says this EPA rollback will lower your grocery bill — but experts who study your food costs aren't so sure
ECONOMY: Beef prices are up 28% and beloved Texas barbecue joints are closing or considering it
AUTO: Thieves stripped catalytic converters from parked Maryland cars in under 30 minutes — leaving drivers with bills up to $2,500
NEWS: Microsoft cut its engineers off from AI because the bill got too big, and it might mean your job is safer than you think
HAVE YOUR SAY
Congress wants to add $1.5 trillion to the national debt and invest it in the stock market to save Social Security. Researchers say it fails 70% of the time. What do you think?
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every one.
See you soon with another quick roundup of the financial news that matters.
