The just released 2011 Medicare trustees report does not contain any big surprises. Much of what the trustees say in this report they have said before: Medicare poses enormous challenges for patients and taxpayers alike, and its financial condition continues a downward slide. Some key findings:
Medicare’s unfunded obligations increased by $2 trillion. A key indicator of the true cost of the program is the cost of the promised benefits that are not financed by dedicated revenues. Using their standard 75-year projection (2011–2085), the trustees estimate this year that Medicare benefits promised that are not paid for amount to $24.6 trillion, compared to their projection of $22.5 trillion last year. Continue reading “Medicare Trustees report deteriorating financial conditions”
We would like everybody to go to vote on May 17, 2011. The choice is yours to make but we’ll help you get there, if you need a ride.
CALL: 814-314-9130 and leave a message with your name, address and telephone number and you will receive a call by your driver. Please speak slowly and distinctly and be sure about your contact phone number.
Informal Election Evening Gathering is 7:30 – 9:30PM at Brew Erie at Union Station. Cash Bar, cheese, veggie and BBQ cocktail franks provided (and of course you can also order from the menu on your own). Bring friends to watch the election results together. Individual candidates may have their own gathering, please inquire with their campaigns.
PRINCETON, NJ — By a 47% to 19% margin, Americans say they would want their member of Congress to vote against raising the U.S. debt ceiling, while 34% don’t know enough to say. Republicans oppose raising the debt ceiling by 70% to 8% and independents by 46% to 15%. Democrats favor raising the ceiling by 33% to 26%.
“A financial crisis is surely going to happen as big or bigger than the one we had in 2008 if we continue to behave the way we’re behaving,” says Stanley Druckenmiller, the legendary investor and onetime fund manager for George Soros. Is this another warning from Wall Street that Congress must immediately raise the federal debt limit to prevent the end of civilization?
No—Mr. Druckenmiller has heard enough of such “clamor and hyperbole.” The grave danger he sees is that politicians might give the government authority to borrow beyond the current limit of $14.3 trillion without any conditions to control spending.”
Mr. Druckenmiller said the above in his his interview with James Freeman, the importance of getting our fiscal house in order in the near future.
News services in Pittsburgh and Erie are reporting that Pennsylvania Gov. Tom Corbett will undergo back surgery Monday in Pittsburgh for treatment of spinal stenosis.
The surgery at Allegheny General Hospital will require the governor to stay in the hospital for one or two days, the governor’s office announced today.
Corbett is expected to resume his duties Tuesday while recuperating at home in Shaler Township. He will return to Harrisburg by the end of the week.
Spinal stenosis is a narrowing of the spinal canal, from a variety of causes, resulting in a compression of spinal nerves. It leads to persistent pain and decreased strength from occasional motor nerve dysfunction. The surgical procedure usually involves relieving the compression of the nerves by unroofing portions of the bone around the nerves.
Harrisburg – Governor Tom Corbett today ordered all U.S. and Pennsylvania flags
at commonwealth facilities statewide to be flown at half-staff on Sunday, May 15 to
recognize National Peace Officers Memorial Day.
Peace Officers Memorial Day was created by Congress to honor the memory of law
enforcement officers killed in the line of duty. Private residences and businesses are
also encouraged to fly flags at half-staff on that day.
Pennsylvania officers killed in the line of duty during 2010 included Trooper Paul
Ritchey of the Pennsylvania State Police; Cpl. Christopher Milito of the Delaware
River Port Authority; and Wildlife Conservation Officer David Grove of the
Pennsylvania Game Commission.
The governor’s order follows a similar order issued by the White House.
How to Balance the Budget and Create Long-Term Growth My plan to solve our debt crisis.
As I traveled across Pennsylvania last year, I promised Pennsylvanians that I would dedicate myself to two key priorities in the United States Senate: restoring economic growth and private-sector job creation, and putting our federal government on a sustainable fiscal path.
These two goals are inextricably connected. We cannot maximize economic growth without getting our government’s finances in order. And we can’t get our finances in order if we don’t have the courage to make serious and tough choices right now.