U.S. healthcare spending soared by about $933.5 billion between 1996 and 2013. In 2013, healthcare spending hit $2.1 trillion, and today, is likely at $3.2 trillion, which equates to 18% of the entire U.S. economy. The U.S. now spends more on healthcare than any other country in the world. Even after adjusting for inflation, the (more…)
Despite claims otherwise, the Trump tax proposal is again being criticized for disproportionately helping the wealthy while the middle class will receive less-than-promised, according to a new analysis released on Monday. People earning more than $730,000 a year would get an average cut of more than $37,000, according to the Tax Policy Center. This would (more…)
The President Says on Twitter That the 401(k) Plans Will Be Untouched, But Not Everyone Is Convinced The Trump tax plan continues to face controversy, this time with concerns that the 401(k) pension-matching plan may face reductions in the new tax overhaul plan, even as the president comes out on Twitter to claim that the (more…)
The Battle Over the Trump Tax Reform Continues to Heat Up BlackRock Inc Chief Executive Larry Fink said that the U.S. tax reform proposed by the White House will be unable to pass Congress as it is currently structured, saying that the plan would add to the deficit.
Most Economists Agree that Tax Cuts Will Widen U.S. Budget Deficit While the Donald Trump administration asserts that its proposed tax plan will boost economic growth in the United States, leading economists in the country beg to differ.
Americans Falling Behind on Student Loan Repayments Economists are perplexed about why more Americans are falling behind in their student debt repayments compared to a year ago. Most economists agree that the U.S. economy has improved since then, which should decrease—not increase—loan delinquencies. According to the U.S. Department of Education, the percentage of Americans who are at least 31 days (more…)
Connecticut Capital’s Bond Rating Cut to Near-Default Levels Rating agency Standard and Poor’s (S&P) has cut Hartford, Connecticut’s credit rating to near-default levels, warning of an imminent default. S&P has cut the city’s credit rating from B- to CC. This is the second time in two weeks that S&P has lowered the rating for Connecticut’s capital city.
State Governments Found to Be $645 Billion Short for Healthcare Liabilities U.S. state governments will owe more money in retiree health benefits than previously believed. A recent change in accounting guidelines has uncovered that U.S. states may be short by a whopping $645.0 billion for their future healthcare-related liabilities.
American Government Owes More than Any Other Country in the World Fears of default may have temporarily subsided after President Donald Trump raised the debt ceiling until December, but uncertainty continues to haunt the markets as investors worry about America’s growing debt problem.
Student Loan Debt Delays Home Buying for American Millennials The majority of American Millennials do not own a home, and feel forced to delay buying one, due to their hefty student loans.