57 results for search: loon


CBO: Medicaid, Social Security expected to balloon budget deficit over next decade

The Congressional Budget Office predicts the budget deficit will continue to grow over the next 10 years as the elderly retire and seek more medical care. Meanwhile, budget expenditures this year already exceed expenditures from this time last year. ABC News has the details: Economists at JPMorgan Chase are predicting that the deficit for this budget year will total $425 billion. The Congressional Budget Office, which will update its forecast later this month, had predicted in August that the deficit this year would shrink even more to $414 billion but then begin rising for the rest of the decade and will top $1 trillion again by 2025. The ...

Congressman: Obamacare ‘more than just another pile of broken promises’

Rep. John Ratcliffe (R-Texas), in the wake of the Obama administration announcing so-called Affordable Care Act insurance premiums will rise dramatically, recently echoed the sentiment Obamacare needs to be repealed in light of its ballooning premium increases. The Washington Examiner has the details: "Twenty-two percent," he said. "That's how much more the average mid-level Obamacare plan will cost next year." Ratcliffe said if people try to switch their plans, it will mean finding a new doctor. But it might be too difficult to switch plans at this point… "As you can see, Obamacare is more than just another pile of broken promises," ...

Arizona millennials on Obamacare ‘silver plan’ facing 116-percent increase to their premium

Young adults in Arizona who make between $30,000 and $40,000 a year are on the hook for a hefty chunk of a 116-percent-premium increase to their Obamacare insurance as they fail to qualify for a larger subsidy that would defray the price jump, according to a Health and Human Services report released Monday. CBS New York has the details: The Department of Health and Human Services revealed Monday that premiums for a midlevel benchmark plan will increase an average of 25 percent across the 39 states served by the federally run online market, and that about 1 in 5 consumers will have plans only from a single insurer to pick from, after major national ...

White House confirms Obamacare enrollees on the hook for double-digit premium increases

Brace yourselves, Obamacare enrollees. Premiums are about to skyrocket across the country *an average* of 25 percent, the Obama administration verified Monday. The Associated Press has the details: Before taxpayer-provided subsidies, premiums for a midlevel benchmark plan will increase an average of 25 percent across the 39 states served by the federally run online market, according to a report from the Department of Health and Human Services. Some states will see much bigger jumps, others less. Moreover, about 1 in 5 consumers will only have plans from a single insurer to pick from, after major national carriers such as UnitedHealth Group, ...

Wisconsin residents brace for 16-percent Obamacare premium increase

Badger State residents enrolled in Obamacare next year can expect a 16 percent increase to their health-insurance premiums, according to the state insurance commissioner. The Washington Free Beacon has the story: “Consumers in Wisconsin will be facing an average 15.88 percent increase, but that is just an average,” said commissioner Ted Nickel. “Consumers in some areas may see increases as high as 30.37 percent.” For individuals whose health insurer exited the market and are left with no health insurance, the federal government will automatically re-enroll the individual in a new plan if the individual doesn’t purchase coverage ...

House panel subpoenas VA over pricey hospital, art


Congressional Budget Office: U.S. federal debt in 2035 projected to exceed historic high

The U.S. federal debt is ballooning and expected to exceed U.S. gross-domestic product by 2035 – a bleak projection that even has officials at the Congressional Budget Office admitting that, if something isn’t done to curb the nation’s financial woes, our debt could soon spell worldwide financial disaster. The Hill has the details: The United States is less than two decades away from exceeding its highest recorded level of federal debt, according to the non-partisan Congressional Budget Office (CBO). The CBO projects that U.S. federal debt will pass 106 percent of the country's gross domestic product (GDP) by 2035, in its second long-term ...

Taxes, Spending, and Tax Credits Out of Control under Kurt Schaefer


Sen. Perdue: The ‘merry-go-round’ of artificially low interest rates ‘is going [to] stop’

When interest rates on our debt suddenly balloon, our nation will be facing even greater economic difficulties unless Congress enacts a solution. Fortunately, there are members of Congress like freshman Senator David Perdue of Georgia who know the value of a dollar and how frivolously we as a nation are managing our books. The Daily Signal has the scoop: Still, the debt doesn’t worry Perdue as much as the interest liability does. Should those rates rise—and Perdue is confident they will—he predicts the country won’t be able to make the minimum interest payments. For the past seven years, the Federal Reserve has targeted rates at an ...

Financial expert: Entitlement spending by 2019 will eclipse tax revenue

The U.S. is experiencing one of the longest economic recoveries since the 1960s and could be teetering on recession, as interest on our debts continue to accrue and as entitlement spending continues to balloon over the next three years. Forbes has the commentary: The weakest recovery in modern history has stretched on for 69 months… Sometime in 2019, entitlement spending, defense, and interest will consume all the tax revenues collected by the US government. That means all spending for everything else will have to be borrowed. The CBO projects the deficit will rise to over $1 trillion by 2023. By that point, entitlement spending and net ...