Wednesday, 12 December, 2018

Medicare to Become Insolvent In 8 Years, Social Security in 16

Government Medicare will become insolvent in 2026 Social Security to follow in 2034 Government Medicare will become insolvent in 2026 Social Security to follow in 2034
Samantha Long | 10 June, 2018, 08:28

The solvency of the Medicare trust fund, the main USA public health insurance program, deteriorated over the last year and could be exhausted by 2026 - two years earlier than previously estimated.

The trustees also annually weigh in on the solvency of Social Security, whose total cost is projected to exceed total income this year for the first time since 1982.

The good news is, Social Security isn't projected to run short of funds any sooner than it was a year ago. At that point the program would only be able to pay out 91% of promised benefits.

"As in past years, the Trustees have determined that the fund is not adequately financed over the next 10 years", the report said.

Mnuchin said in a statement that there's time to fix the problems. It will decline further to about 2.2 by 2035, when most baby boomers will have retired, officials said.

Once the funds are depleted, beneficiaries of the program will receive only three-quarters of their scheduled benefits. Medicare spent $710 billion in 2017, according to the report, making it the single biggest purchaser of health services in the U.S. The trustees include Treasury Secretary Steven Mnuchin and Health and Human Services Secretary Alex Azar. About a quarter of Part B costs are paid for by beneficiary premiums with the rest from the federal budget.

Social Security recipients are likely to see a cost-of-living increase of about 2.4 percent next year, said government number-crunchers who produced the report.

KFC will test a vegetarian alternative in UK
In April, White Castle introduced a plant-based equivalent of its Cheese Slider, made with Impossible Foods plant-based meat. The vegetarian option is believed to be the first time a major fast-food chain is putting fake chicken on the menu.

The National Committee to Preserve Social Security and Medicare advocacy group responded to the report by urging the Trump administration to allow the program to negotiate prices with drugmakers.

Democrats, meanwhile, want to extend the social safety net by spending more on health care and education.

The Congressional Budget Office said in April that federal deficits and debt would soar in the coming decade, after passage of the tax overhaul and legislation to increase military and domestic spending. Government economic experts who briefed reporters Tuesday said the tax bill and other recent legislative changes from Congress on balance worsened the condition of both programs.

In principle, the U.S.is supposed to be paying forward its Social Security and Medicare obligations by building up trust funds to cover future costs.

The trustees said this is the third year in a row that the near-term disability cost outlook significantly improved.

House Speaker Paul Ryan, R-Wis., has always been an advocate for overhauling the programs, introducing a voucher-like system for Medicare and calling for partially privatizing Social Security.

Recommended

  • Quantico Apologises For 'Indian Nationalists' Terror Plot, Says Don't Blame Priyanka Chopra

    Quantico Apologises For 'Indian Nationalists' Terror Plot, Says Don't Blame Priyanka Chopra

    Reports of a romance between Nick and Priyanka first surfaced in May 2018 after the two spent Memorial Day weekend together.
    Colby Covington Quotes: 10 Craziest Things UFC Fighter Has Said

    Colby Covington Quotes: 10 Craziest Things UFC Fighter Has Said

    And if they don't necessarily need him, he knows how much money he makes them. You've got to realize, there are certain rights you deserve as a champion.
    Obama to blame for Crimea fallout, some want Russian Federation  back in G8

    Obama to blame for Crimea fallout, some want Russian Federation back in G8

    Donald Trump has been busy attacking USA allies ahead of the G7 summit which begins today in the town of La Malbaie in Quebec. Canada and Mexico, the other members of the 1994 pact, have been frustrated by the slow pace of talks to renegotiate NAFTA.
  • ME  senators caution Trump on self-pardon

    ME senators caution Trump on self-pardon

    The bill will be an amendment to the defense authorization legislation which the Senate will soon debate. This reality doesn't seem to discourage the senators, who are aggressively moving forward with the bill.
    Nabil Fekir's proposed move to Liverpool collapses

    Nabil Fekir's proposed move to Liverpool collapses

    Liverpool was hoping to add Fekir to their off-season signings of Monaco midfielder Fabinho and RB Leipzig's Naby Keita . Jurgen Klopp, in particular, will be delighted to have secured the signing of Fekir , should the transfer go through.
    AI obsessed with murder after being exposed to

    AI obsessed with murder after being exposed to "darkest corners of Reddit"

    Researchers at MIT have created a new artificial intelligence which it calls the "world's first psychopath AI". MIT's research highlights the importance of training AI on the right data set.
  • The best E3 2018 trailers so far

    As you complete objectives, you return back to the hub to complete your missions and move forward with your individual story arc. That said, EA owns DICE, Respawn and a ton of other game studios - so there will be plenty of beloved franchises to fawn over.
    Florida Stopped Gun Permit Checks for More Than a Year

    Florida Stopped Gun Permit Checks for More Than a Year

    Keller told the Times that Wilde was sacked immediately after the Inspector General's Office concluded she had been negligent . Agriculture Commissioner Adam Putnam acknowledged that the state revoked the permits in a statement issued Friday evening.

    Donald Trump Calls for Total Tariff Removals at G7 Summit

    Vice President Mike Pence told Trudeau he would have to agree to that before Trump would agree to meet him. Trump repeated that America's allies had repeatedly won on trade deals, hurting American workers and jobs.
  • A look back at Trump on North Korea

    A look back at Trump on North Korea

    But if not, "at least we'll have met each other, we'll have seen each other; hopefully, we'll have liked each other". South Korean activists hold candles during a rally to support of the USA and North Korea summit on June 9 in Seoul.
    Brexit: Labour too divided to back Norway-style deal, says Starmer

    Brexit: Labour too divided to back Norway-style deal, says Starmer

    It would make it a formal goal in negotiations to keep "full access" to the single market. "This is his answer". But Mrs May said Labour was standing in the way of progress on withdrawal despite voting to trigger exit talks.
    Woman kidnapped as newborn from Jacksonville hospital in 1998 found alive

    Woman kidnapped as newborn from Jacksonville hospital in 1998 found alive

    Gloria Williams stared at the floor as fourth Judicial Circuit Judge, Marianne Aho , announced her punishment. Gloria Williams received an 18-year sentence for kidnapping and five years for interfering with custody.

LeBron James Odds: Lakers, Rockets, Cavs Favorites for Star's Next Team LeBron James Odds: Lakers, Rockets, Cavs Favorites for Star's Next Team In addition, Kanter has occasionally taken to social media to take a jab at James over any number of different things. This makes sense as the Houston Rockets are already a serious candidate for LeBron due to the Chris Paul connection.

The US again has the world's most powerful supercomputer The US again has the world's most powerful supercomputer Friday that it says is the world's fastest and leapfrogs a Chinese machine that has held the top spot for the last two years. Department of Energy's Oak Ridge National Laboratory (ORNL) today unveiled Summit , the department's newest supercomputer.

UN sanctions for people smugglers in Libya in global first UN sanctions for people smugglers in Libya in global first The blacklisted six are four Libyans, including the head of a regional coast guard unit, and two Eritrean nationals. The black-listed culprits committed serious human rights abuses against migrants, including women and children.

North Atlantic Treaty Organisation to bolster defences North Atlantic Treaty Organisation  to bolster defences Over the past year he has pulled the USA out of the Paris climate change agreement and a deal limiting Iran's ability to develop nuclear weapons.

Judge homers in 13th inning as Yankees outlast Blue Jays Judge homers in 13th inning as Yankees outlast Blue Jays Conine joins Vladimir Guerrero Jr., Bo Bichette, Cavan Biggio, Kacy Clemens and Dwight Smith Jr., in the Blue Jays system. In the 11th inning, Blue Jays reliever John Axford threw two wild pitches, which put Stanton at third with two out.

EA Play at E3 2018 As you complete objectives, you return back to the hub to complete your missions and move forward with your individual story arc. That said, EA owns DICE, Respawn and a ton of other game studios - so there will be plenty of beloved franchises to fawn over.

Singapore says 'all systems go' for Trump-Kim summit Singapore says 'all systems go' for Trump-Kim summit But after North Korea repeated its eagerness to meet, the summit was back on . "We appreciate everything what is going on". He recognizes the current model doesn't work, but that the [solution] has to be big and bold".

Taliban announce cease-fire over Eid holiday for 1st time Taliban announce cease-fire over Eid holiday for 1st time He added that eight insurgents were killed and more than a dozen others were wounded in the gun battle in Zewal district. In the meantime, Taliban insurgents have continued to carry out attacks.

Eunice Gayson Dies: The First "Bond Girl" Was 90 Eunice Gayson Dies: The First Sylvia Trench was due to be a recurring character, but the idea was dropped by the director of Goldfinger , Guy Hamilton. After her role in the James Bond films, Gayson went on to appear in TV series " The Saint " and " The Avengers ".

Whyte late option for Parker? Whyte's lasting outing was a brutal sixth round knockout win over Australian Lucas Browne in March . Joshua, who also holds the WBA, IBO and WBO titles, went on to beat his replacement Carlos Takam.

Trailer Debuts For HBO’s Robin Williams Documentary Trailer Debuts For HBO’s Robin Williams Documentary The trailer also hints at never-before-seen footage and the depth in which Robin Williams' life be discussed. Actor and comedian Robin Williams' suicide in August 2014 left so many shocked.

Why the Golden State Warriors will win the NBA Finals Why the Golden State Warriors will win the NBA Finals But the Rockets has to like their opportunities of securing their first NBA Finals berth since 1995. Last offseason, the Rockets were one of the teams that tried to acquire George from the Pacers.

Redmond O'Neal, son of late Farrah Fawcett, charged with attempted murder Redmond O'Neal, son of late Farrah Fawcett, charged with attempted murder On the same day, witnesses saw another man lying in a pool of blood in the same area with multiple stab wounds to his face and body.

Sea Of Solitude Is About Loneliness And Embracing Negative Emotions Sea Of Solitude Is About Loneliness And Embracing Negative Emotions As the trailer below shows, the world seems to be a a partially flooded ruin that can seem nearly peaceful and quaint at times. More information is sure to come as the game finally approaches its expected release date of early 2019.

Warriors flying back from Ohio after NBA Finals win over Cavs Warriors flying back from Ohio after NBA Finals win over Cavs Game 4 of the NBA Finals is underway and Cavaliers are in a bad situation, but Game 4s have been good for them lately. Smith. "We still have to keep that enthusiasm, trust and belief that we can get this thing done".