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NEW YORK, N.Y., Aug. 10, 2022 (SEND2PRESS NEWSWIRE) — Klingenstein Fields Advisors (KF Advisors) welcomes Michael S. Schiff, J.D., AEP, TEP, a…
FILE - In this Aug. 8, 2020, photo a patient's vital signs are displayed on a monitor at a hospital in Portland, Ore. At its current pace, Medicare’s Hospital Insurance trust fund will run out of money in 2028, according to the latest Medicare trustees report. That’s a two-year extension on the previous estimate. (AP Photo/Jenny Kane, File)
At its current pace, Medicare’s Hospital Insurance trust fund will run out of money in 2028, according to the latest Medicare trustees report. That’s a two-year extension on the previous estimate, but experts say it’s still not good news, and the government needs to stop twiddling its thumbs. If Medicare exhausts its Part A reserves, hospital insurance spending will be cut by 10% starting as soon as 2029. Shoring up Medicare could mean doing things like shifting some benefits from Part A to Part B, revamping Medicare prescription drug coverage, reducing payments to providers or moving some money over from other parts of the government’s budget.
President Joe Biden’s legislative victories have aimed to position the U.S. to “win the economic competition of the 21st century,” but his investments to boost the nation’s technology, infrastructure and climate resilience over the next decade are set against a 90-odd-day clock until the midterms. From turbocharging the U.S. computer chip sector to shifting the nation to a greener economy, the achievements from Biden will take years to come to fruition. Yet Democrats are gambling that the rapid clip of recent accomplishments will persuade a downcast electorate to vote in their party’s favor. Democratic Sen. Brian Schatz of Hawaii says, “It’s a vibe, and the vibe is winning."
The Senate has approved Democrats' big election-year economic package. The legislation is less ambitious than President Joe Biden’s original domestic goals. But it embodies deep-rooted party dreams of slowing global warming, moderating pharmaceutical costs and taxing big corporations. Debate began Saturday and went around the clock into Sunday afternoon. Democrats had swatted down some three dozen Republican efforts to torpedo the legislation. Biden is urging swift House passage, and the House seems on track to provide final congressional approval when it returns briefly from summer recess on Friday.
In a story published July 30, 2022, The Associated Press reported that the Congressional Budget Office estimated that an insulin bill would increase the price of the drug. The story should have made clear that CBO said the measure would reduce insulin costs for many consumers, but would drive up government costs and premiums charged by Medicare and private insurers.
Across the U.S., COVID-19 relief money is helping to subsidize growing numbers of big-city schools with small numbers of students. When the money runs out in a few years, officials will face a difficult choice: Keep the schools open despite the financial strain, or close them, upsetting communities looking for stability for their children. An analysis by Chalkbeat and The Associated Press shows more than one in five New York City elementary schools had fewer than 300 students last school year. In Los Angeles, that figure was over one in four. In Chicago it has grown to nearly one in three.
Some states have moved ahead with plans of their own to boost child care subsidies after a national effort by Democrats in Washington stalled. New York lawmakers passed a budget in the spring that calls for $7 billion to make child care more affordable over the next four years. New Mexico raised income eligibility for subsidies to the highest level of any state. Rhode Island lawmakers provided subsidies for child care workers and a tax credit to help pay for child care. Some New York lawmakers say they want to eventually make child care freely available as early as kindergarten.
A ticket bought in a Chicago suburb has beaten the odds and won a $1.337 billion Mega Millions jackpot. A lottery official says there is one winning ticket and it was purchased at a store in Des Plaines. The winning numbers drawn Friday night are: 13-36-45-57-67, with a Mega Ball of 14. The jackpot is the nation’s third-largest lottery prize. It grew so large because no one had matched the game’s six selected numbers since April 15. That’s 29 consecutive draws without a jackpot winner. The $1.337 billion prize is for winners who choose the annuity option, paid annually over 29 years. Most winners opt for the cash option, which for this latest drawing was an estimated $780.5 million.
You bought a Mega Millions lottery ticket and have been dreaming of how you’ll spend $1.28 billion. Now it’s time to check your numbers and face reality. Friday’s winning numbers are: 13-36-45-57-67, with a Mega Ball of 14. The jackpot is the third-largest lottery prize and the biggest in nearly four years. It grew so large because there have been 29 consecutive draws without a winner. The $1.28 billion prize is for players who are paid with the annuity option, which makes 30 annual payments. Nearly all jackpot winners choose the cash option, which for Friday night’s drawing is an estimated $747.2 million. The odds of winning the jackpot are 1 in 302.5 million.