Trustees: Medicare trust fund exhausted in 2026: Associated Press
WASHINGTON (AP) - The government said Friday that Medicare's giant hospital trust fund will be exhausted in 2026, two years later than projected last year, while the date that Social Security will exhaust its trust fund remained unchanged at 2033.
The latest projections were included in the annual report of trustees of the trust funds. The new report warned that despite the small improvement in Medicare, both it and Social Security face significant funding challenges as the giant baby boom generation continues to retire. Currently, 58 million Americans are receiving Social Security benefits.
"Under current law, both of these vitally important programs are on unsustainable paths," Robert D. Reischauer, one of two public trustees, told reporters at a news conference.
Friday, May 31, 2013
Thursday, May 30, 2013
Monday, May 27, 2013
Legislature should approve Medicaid money: Editorial | NOLA.com
Legislature should approve Medicaid money: Editorial | NOLA.com
The nonpartisan Legislative Fiscal Office's analysis found that Louisiana would save between $532 million and $544 million over the first five years of the expansion. The fiscal office estimates the state would save between $185 million and $510 million over 10 years.
The Department of Health and Hospitals reported recently that the state would save as much as $367.5 million over the first 10 years of the expansion under the Affordable Care Act. DHH's worst-case scenario is that Louisiana would have to spend $1.52 billion to $1.71 billion over a decade.
Even if that turns out to be the case, it is worth it to get almost $16 billion in new funding for health care. Yet ministers, retirees, health clinic operators and many others have pleaded with Gov. Jindal and legislators to take the money to no avail.
The nonpartisan Legislative Fiscal Office's analysis found that Louisiana would save between $532 million and $544 million over the first five years of the expansion. The fiscal office estimates the state would save between $185 million and $510 million over 10 years.
The Department of Health and Hospitals reported recently that the state would save as much as $367.5 million over the first 10 years of the expansion under the Affordable Care Act. DHH's worst-case scenario is that Louisiana would have to spend $1.52 billion to $1.71 billion over a decade.
Even if that turns out to be the case, it is worth it to get almost $16 billion in new funding for health care. Yet ministers, retirees, health clinic operators and many others have pleaded with Gov. Jindal and legislators to take the money to no avail.
Daily Kos: JFK's "treason" vs. Obama's "treason": Notice any similarities?
Daily Kos: JFK's "treason" vs. Obama's "treason": Notice any similarities?
For those old enough to remember, the far right had a lot of gripes about President Kennedy. And they now echo the same talking points about Obama. Underline ECHO.
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For those old enough to remember, the far right had a lot of gripes about President Kennedy. Indeed, the far right passed out leaflets accusing him of treason.
For those old enough to remember, the far right had a lot of gripes about President Kennedy. And they now echo the same talking points about Obama. Underline ECHO.
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For those old enough to remember, the far right had a lot of gripes about President Kennedy. Indeed, the far right passed out leaflets accusing him of treason.
The National Memo » Separate But Unequal: Apple Defers Its Taxes, You Foot The Bill
The National Memo » Separate But Unequal: Apple Defers Its Taxes, You Foot The Bill
The richest of the rich are different from you and me because instead of paying taxes, Congress lets them pay interest.
This little-known difference was on full display before the Senate Permanent Investigations subcommittee this week, though you would hardly know that from the news reports of testimony by Apple CEO Tim Cook and his top finance and tax executives.
The reality is that America has two income tax systems, separate and unequal. And as with all such separate and unequal systems, the powerful benefit by sticking everyone else with the costs.
The system is so unequal that corporate tax departments at the biggest multinationals have been transformed from cost centers into what Enron called its tax office: a profit center.
The richest of the rich are different from you and me because instead of paying taxes, Congress lets them pay interest.
This little-known difference was on full display before the Senate Permanent Investigations subcommittee this week, though you would hardly know that from the news reports of testimony by Apple CEO Tim Cook and his top finance and tax executives.
The reality is that America has two income tax systems, separate and unequal. And as with all such separate and unequal systems, the powerful benefit by sticking everyone else with the costs.
The system is so unequal that corporate tax departments at the biggest multinationals have been transformed from cost centers into what Enron called its tax office: a profit center.
Unexpected Health Insurance Rate Shock-California Obamacare Insurance Exchange Announces Premium Rates - Forbes
Unexpected Health Insurance Rate Shock-California Obamacare Insurance Exchange Announces Premium Rates - Forbes
Yesterday, Covered California—the name given to the healthcare exchange created pursuant to the Affordable Care Act that will serve the largest population of insured citizens in the nation—released the premium rates submitted by participating health insurance companies for the three health insurance program categories (bronze, silver and gold) established by the Affordable Care Act, along with the catastrophic policy created for and available to those under the age of 30.
Upon reviewing the data, I was indeed shocked by the proposed premium rates—but not in the way you might expect. The jolt that I was experiencing was not the result of the predicted out-of-control premium costs but the shock of rates far lower than what I expected—even at the lowest end of the age scale.
Yesterday, Covered California—the name given to the healthcare exchange created pursuant to the Affordable Care Act that will serve the largest population of insured citizens in the nation—released the premium rates submitted by participating health insurance companies for the three health insurance program categories (bronze, silver and gold) established by the Affordable Care Act, along with the catastrophic policy created for and available to those under the age of 30.
Upon reviewing the data, I was indeed shocked by the proposed premium rates—but not in the way you might expect. The jolt that I was experiencing was not the result of the predicted out-of-control premium costs but the shock of rates far lower than what I expected—even at the lowest end of the age scale.
Friday, May 17, 2013
The real IRS scandal: Reinterpreting the law — MSNBC
Internal Revenue Service agents have been struggling to do their jobs–which have been made essentially impossible by an incorrect interpretation of the law that the IRS made in 1959. It was then that the IRS changed the language of the law without any authority to do so. Here is how the tax law was written in its latest update in 1954 on 501(c)(4) social welfare organizations. The 501(c)(4) designation was to apply only to: “Civic leagues or organizations not organized for profit but operated exclusively for the promotion of social welfare.”
But a 1959 interpretation guideline written by the IRS says that: ”To be operated exclusively to promote social welfare, an organization must operate primarily to further the common good and general welfare…” The real IRS scandal: Reinterpreting the law — MSNBC
But a 1959 interpretation guideline written by the IRS says that: ”To be operated exclusively to promote social welfare, an organization must operate primarily to further the common good and general welfare…” The real IRS scandal: Reinterpreting the law — MSNBC
Wednesday, May 15, 2013
The Biggest Price-Fixing Scandal Ever | Politics News | Rolling Stone
The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix
Read more: http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425#ixzz2TOQNGcwO
The Biggest Price-Fixing Scandal Ever | Politics News | Rolling Stone
Read more: http://www.rollingstone.com/politics/news/everything-is-rigged-the-biggest-financial-scandal-yet-20130425#ixzz2TOQNGcwO
The Biggest Price-Fixing Scandal Ever | Politics News | Rolling Stone
Thursday, May 9, 2013
The Biggest Creator of Low-Wage Jobs? Uncle Sam | News & Notes, What Matters Today | BillMoyers.com
The Biggest Creator of Low-Wage Jobs? Uncle Sam | News & Notes, What Matters Today | BillMoyers.com
Who employs more low-wage workers than Walmart and McDonald’s combined? You do.
A new study from Demos estimates that American taxpayers fund nearly 2 million low-wage jobs that pay workers less than $24,000 a year ($12 an hour or less). These private-sector jobs are generated by federal contracts, grants, loans and other programs (see chart).
Workers making $12-or-less an hour say that they are scraping by. Often on public assistance, they find it difficult to afford basic necessities like rent, food, health care and utilities. Because of sequestration, pressure on government agencies to spend less money may add even more to their ranks.
Who employs more low-wage workers than Walmart and McDonald’s combined? You do.
Click the chart to zoom, or view the full report.
Workers making $12-or-less an hour say that they are scraping by. Often on public assistance, they find it difficult to afford basic necessities like rent, food, health care and utilities. Because of sequestration, pressure on government agencies to spend less money may add even more to their ranks.
Wednesday, May 8, 2013
Thursday, May 2, 2013
Obama’s Numbers (Quarterly Update)
Obama’s Numbers (Quarterly Update)
Reviewing some key statistical measures of Barack Obama’s presidency so far, we find:
These are some of the insights that emerge from the first in a series of regular quarterly updates of key statistical indicators of the Obama presidency.
As with our “Obama’s Numbers” article in October, and the pre-election update we posted Nov. 5, our intent is to provide accurate measures of what’s changed — for better or worse — since Obama first took office in January 2009.
Reviewing some key statistical measures of Barack Obama’s presidency so far, we find:
- The economy has added more jobs since Obama took office than it did in his predecessor’s entire eight years in office.
- Despite the improved economy, the number of people receiving food-stamp assistance has continued to grow, and now more people have been added to the food-stamp rolls under Obama than under any single previous president.
- Federal spending under Obama has grown faster than inflation, but far more slowly than it did under President Bush.
- Federal debt held by the public has grown by 90 percent since Obama took office.
- Obama has ordered seven times more drone strikes than Bush in the covert conflicts in Pakistan and Yemen, according to independent estimates.
- Domestic oil production has soared; oil imports have dropped by one-third; new cars are getting 17 percent better mileage; and wind and solar power have increased 157 percent.
As with our “Obama’s Numbers” article in October, and the pre-election update we posted Nov. 5, our intent is to provide accurate measures of what’s changed — for better or worse — since Obama first took office in January 2009.
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