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For the past three years, there's been a shortfall in the payroll taxes collected for Social Security. As more baby boomers join the ranks of the 57 million people already receiving benefits and the overall share of wages subject to taxation under the program shrinks, that deficit is bound to keep growing.

President Obama addressed the nation Thursday after news that former South African president and anti-apartheid icon Nelson Mandela died, saying the world lost an influential, courageous and "profoundly good" man.

The world is reacting to news that Nelson Mandela has passed away. Ebrahim Rasool, South Africa's Ambassador to the United States, met Mandela in prison and he's been inspired by him ever since. Rasool speaks to host Michel Martin about Nelson Mandela's life and legacy.

The largest municipal bankruptcy in U.S. history took a step forward Tuesday when a judge said the city can go forward with its Chapter 9 bankruptcy case. Now a manager will work to cut pension costs and make deals with creditors. Detroit is $18.5 billion in debt.

The latest ADP National Employment Report says private employers added 215,000 jobs last month, making it the strongest month for job growth since a year ago. And in October, America's trade gap narrowed on the strength of record exports to China, Canada and Mexico.

Two U.S. banks — JPMorgan Chase and Citigroup — are on the list of institutions targeted by the EU fines. At more than $2 billion, the largest fine ever issued by the European Union in such a case came after a two-year investigation into banks' collusion.

Federal regulators are cracking down on banks that are offering services called deposit advances. Many argue that the service is the same as payday loans and could lead consumers into a cycle of debt.

Two years after a federal judge ruled that New York City's fire department's tests discriminated against blacks and Hispanics, nearly 62 percent of graduates from the most recent class of the FDNY's training academy are minorities.

Ronald Thomas Smith II, a chemistry teacher from Texas who spent more than a year at the International School Benghazi, was reportedly shot by unknown assailants. The school's principal tells NBC News that Smith was "very much loved."

Morning Edition reports on the music that sustained Nelson Mandela and other members of the anti-apartheid movement while they were in a South African prison. Many of them were huge reggae fans.