Medicare insolvency now expected in 2026 - three years earlier than previous estimate
08 June, 2018, 04:40 | Author: Jeffery Armstrong
While the boost is welcome news, retirees continue to experience spikes in common household expenditures that are growing several times faster than 3%, the League reports.
The total annual cost of Social Security is projected to surpass total income this year for the first time since 1982, the program's board of trustees said in its annual report.
Medicare, the program that provides health care for older Americans and those who are disabled, is covered by two big trust funds.
The trustees urged Congress to consider options to reduce or eliminate the long-term financing shortfalls in Social Security and Medicare "as soon as possible". Financed with payroll taxes collected from workers and employers, Social Security and Medicare account for about 40 percent of government spending, excluding interest on the federal debt.
Maria Sharapova fires back at Serena in book feud
She will meet either US Open champion Sloane Stephens or her fellow American Madison Keys in Saturday's final. But they hadn't played since 2014, back before Muguruza was as confident and successful as she is these days.
Mnuchin vowed that the Trump administration's efforts to cut taxes, ease federal regulations and improve trade deals would help both Medicare and Social Security survive over the long term.
However, as now projected, it is highly unlikely that economic growth absent larger reforms could solve the programs' huge budget quagmire.
Mnuchin said in a statement that there's time to fix the problems. Medicare "is on track to meet its obligations to beneficiaries well into the next decade".
The report did not change its insolvency date for Social Security, projecting it has enough funding until 2034.
"When Congressional Republicans sold their tax scam to the American people they left out the fact that while the windfalls mostly line the pockets of corporations and the wealthy, the deficits they used to pay for them will fuel their threats to cut Social Security".
Excluding federal debt payments, Medicare and Social Security together make up about 40 percent of total U.S. government spending. Charles Schumer of NY, the Democratic leader. The aging population has squeezed the program, pushing costs up and revenues down. And the number of people on Social Security is expected to climb to 91 million, from 62 million, in the same period.
Social Security recipients are likely to see a cost of living increase of about 2.4 percent next year, working out to roughly $31 a month, government experts said. This is because premium income and general revenue income are reset each year to cover the expected rise in costs.
According to the Telegraph , lake and riverside baptisms are common in many African countries, the risks notwithstanding. It is believed the reptile that killed Pastor Docho was a Nile Crocodile which can grow up to six metres (20ft) long.
In July 2018, Google will launch the new Gmail web-app to GA users, who will now all have the ability to use the new service. G Suite Admins will have a few options for their users which are listed below and will be available in the Admin console.
Trump may not be so good at building walls but he sure is great at burning bridges - according to CNN , the U.S. Macron said the leaders don't want to put out a communiqué if "we drain it of all meaning".
Spade was not only about bags: she would expand into shoes, apparel, luggage and other accessories , and stationery. Spade, who was born in Kansas City, Missouri, launched her company with husband Andy in their NY apartment in 1993.
Halo jumps provide twice the amount of freefall time compared to a standard parachute jump but they are inherently risky. Cruise himself doesn't add much other than saying how excited he is for audiences to see this latest act of derring-do.
Only a loss to Dominika Cibulkova in the 2009 quarterfinals here, in which she won only two games, was worse. She clearly still has business to attend to as she eyes a follow-up to her 2016 title on the Parisian clay.
He added: 'The next stage is to try and develop tests to help us better identify which patients will benefit most '. They stop cancers turning off the immune system so the body can keep on attacking the tumour.
The company's staff, on the other hand, rallied against the idea of company research being used to develop warfare technology. The company is trying to defuse internal outbursts over Google's work on Project Maven, a data analysis program.
The couple got married in Jamaica in 2011 in front of 102 guests - the same year Kate Middleton became Prince William's wife. Though it will mark their first joint engagement, the royal duo have attended a handful of events together in recent months.
When Apple releases the new iOS 12 update, you'll be able to use the group FaceTime feature with up 32 simultaneous participants. Apple senior vice president of Software Engineering Craig Federighi speaks at the Apple Worldwide Developer conference .
The plane made a scheduled stop in Detroit, where Delta says a flight attendant checked on Alejandro at 6 a.m Wednesday. When the owner was given his dog's items back, he was confused as to why they were wet.
Police pursuing stolen military vehicle on I-95
A soldier took a military troop transport from Fort Pickett , Virginia, and drove it at high speeds on I-95, police said . He was charged with driving under the influence of drugs, felony eluding police and felony unauthorized use of a vehicle.
FIFA World Cup Trophy unveiled in Moscow
In attack, the partnership of Edinson Cavani and Luis Suarez is enough to strike fear into any side in the competition. Sadly for him, he is sharing a group with Mo Salah and Luis Suarez, who are very likely to outshine him here.
If Miss America isn’t a beauty pageant, what is it?
She said women who hoped to enter had gotten in touch to say 'We don't want to be out there in high heels and swimsuits '. The revamped Miss America will also nix its evening gown segment and instead encourage women to wear whatever they want.