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Will Social Security run out of money sooner than you think?
Yahoo Finance· 2025-07-15 22:07
Social Security Concerns - Social Security's retirement fund could be depleted in approximately 8 years, potentially leading to a benefit cut of about 23% [1] - The depletion date for the Old-Age and Survivors Insurance (OASI) fund has moved forward by about 6 months due to the Social Security Fairness Act, and another 3 months due to lower fertility rates and worker-to-retiree ratio [7][8][12] - A couple retiring in the year of insolvency could face a $16,500 reduction in their annual benefits [13] - For a single person with a primary insurance amount (PIA) of $3,500 claiming at age 70, benefits could drop by $12,000 annually after the potential cut [15] - For a couple where one spouse has a PIA of $3,500 and the other $2,500, claiming at 70, their combined benefits could drop by $20,000 annually [15][16] Medicare Challenges - The Hospital Insurance (HI) trust fund (Medicare Part A) is projected to be depleted by 2033, three years earlier than the previous projection [5] - Medicare Part B premiums are expected to continue rising, with an example projection using a 6% annual increase [40][41] - Changes in Part D (prescription drug coverage) are causing significant price increases for consumers, with some monthly charges jumping from $3.30 to $35.90 [43][44] Healthcare Coverage Issues - Potential Medicaid cuts and changes to the Affordable Care Act (ACA) could result in approximately 8 million people losing Medicaid coverage and another 8 million losing ACA coverage [1][46] - Proposed changes to ACA enrollment involve stricter requirements and shorter enrollment windows, potentially leading to people losing coverage inadvertently [50][51]
Rep. Brendan Boyle: “You need four Republican Senators to stand up and have the courage to vote, no”
MSNBC· 2025-07-14 10:46
Government Spending Cuts - The bill includes approximately $8 billion in cuts to PBS and around $1 billion in cuts to foreign aid [3] - Medicaid cuts are strategically designed to become binding after the midterms [11] - Over $500 billion in Medicare cuts will begin in January [13] Healthcare Impact - A health clinic and hospital in a rural area in Nebraska are closing due to Medicaid cuts [10] - CBO estimates that approximately 5 million Americans will lose their healthcare coverage who are currently on the ACA, starting in January [13] Social Program Changes - Changes to SNAP will cause millions of people to lose their nutrition assistance, starting earlier than next December [14] Political Landscape - The legislation is considered the single most unpopular major piece of legislation to pass Congress in recent history [9] - The bulk of the cuts will not take effect until a few weeks after the 2026 midterm election [12]
‘You can't do that!’: Fmr. Social Security Chief slams Trump for playing partisan politics at SSA
MSNBC· 2025-07-08 04:01
Joining us now to help factcheck the administration, former Maryland Governor Martin Ali. He served as the commissioner for the Social Security Administration during the Biden administration. I promise we will get to the substance of the claims that are being made, but I just can't get over the fact that the Social Security administration sent a blast email with what we can call a lot of misstatements to be most generous.I don't remember receiving any emails from you when you wouldn't have received those fr ...
This bill will “kill people”: Dem Rep. on how party can capitalize on Trump's unpopular law
MSNBC· 2025-07-06 16:51
Political Strategy & Impact - Democrats are shifting from opposing the bill to using it against Republicans in the midterms, highlighting its unpopularity [1][2] - The strategy involves sharing stories of individuals negatively impacted by the bill's cuts to healthcare and nutrition assistance [4][5][6] - Democrats aim to emphasize that the bill will cause harm and that Republicans are responsible [6][19] Healthcare & Social Welfare - The bill could lead to 17 million people losing healthcare coverage [5][12] - It includes the largest cut to nutrition assistance in American history, affecting children, veterans, the disabled, and the elderly [5] - A $500 billion cut to Medicare is anticipated due to the bill's impact on the deficit [10] Immigration & Detention - Concerns are raised about the conditions at the "alligator Alcatraz" detention facility in Florida, costing $450 million annually, or $150,000 per ICE detainee, which is twice the national average [14][22] - The congresswoman highlights the potential dangers of deporting individuals to countries like Venezuela and Haiti [15][16] - There are allegations of inhumane conditions and lack of due process at detention facilities, with a call for congressional oversight [24][26]
'One Big Beautiful Bill' is one big backwards step for America’s healthcare system
MSNBC· 2025-07-05 20:27
Healthcare Systems Comparison - Canada operates a publicly funded universal healthcare system, unlike the United States [2] - OECD countries, except the US, generally have universal or near-universal healthcare systems [6] - The US spends significantly more per capita on healthcare compared to other developed nations but often has worse outcomes [7] US Healthcare Programs - The Social Security Amendments of 1965 created Medicaid and Medicare [9] - Over 66 million people are on Medicare and 71 million are on Medicaid [11] - In 2023, the US uninsured rate reached a record low of 79% after the implementation of the Affordable Care Act (ACA) [13] Impact of the "One Big Beautiful Bill Act" - The Congressional Budget Office (CBO) estimates the bill will add $33 trillion to the national debt over a decade and could increase the number of uninsured people by 118 million [15] - Some estimate that Trump administration policies could push the number of uninsured people up to 17 million [16] - The bill shortens the annual ACA open enrollment period by about a month [17] - The bill includes provisions that require states with expanded Medicaid coverage to charge some enrollees up to $35 for some services [18] - The changes and cuts from the bill could lead to the closure of some of the country's 760 at-risk rural hospitals [18]
'Truly immoral' legislation: House Dem rails against tax cuts in spending bill
MSNBC· 2025-07-03 13:52
One of the Democrats who spoke out overnight on the House floor was Congressman Brendan Bole of Pennsylvania. He's the ranking member of the budget committee. Here's a bit of what he had to say.The decision we have been entrusted by the American people to make will have ramifications for millions of our fellow Americans and indeed for our country for decades to come. There may not be a lot of people able to watch at 4:05 in the morning, but in just a few short hours, some of them on Medicaid will be waking ...
‘Shut the hell up!’: Michael slams Republicans pretending to oppose their own bill 
MSNBC· 2025-07-03 01:45
Healthcare & Social Welfare Policy - The GOP bill is considered "cruel and shameless" with potentially long-term negative impacts on Americans and the healthcare system [4] - The bill could lead to 17 million Americans losing healthcare due to cuts to Medicaid and the ACA [10] - The bill proposes cutting $1 trillion from Medicaid and half a trillion dollars from Medicare [10] - The bill impacts Medicaid, Medicare, and Social Security, despite pledges not to [8][11] Political Strategy & Tactics - House rules limit the minority party's ability to influence legislation [3] - Democrats are using procedural tactics, press conferences, and public outreach to oppose the bill [5][12] - Democrats are highlighting the potential negative impacts of the bill on specific districts and constituents [20][21] - Democrats are calling out Republicans who express concerns about the bill but are expected to vote in favor [20][22] Economic Impact & Tax Policy - The bill is described as a "tax scam" that transfers wealth from the working and middle class to the wealthiest Americans [26] - A temporary "no tax on tips" provision is contrasted with permanent tax cuts for the wealthy [25][26] - 60% of households in the country are unable to meet basic needs, and the bill exacerbates income inequality [28]
'Epitomizes everything': Trump reportedly didn’t realize his bill strips Medicaid
MSNBC· 2025-07-03 01:28
[Music] Mr.. Speaker, I found the preamble to this big ugly bill. We the billionaires in our king in order to deform and sicken our union, establish injustice, ensure domestic cervility, weaken our people's defenses, undermine the general welfare, and reserve to ourselves and our posterity staggering debt servitude for eternity. do hereby instruct the Republicans in Congress to strip 17 million people of their health care, increase co-pays, deductibles, and premiums for everyone else. Congressman Jamie Rask ...
MAGA problems? GOP hardliners THREATEN floor revolt against Trump's megabill
MSNBC· 2025-07-02 16:59
Peter, uh, President Trump has not been shy about saying very directly there will be consequences for Republicans who don't fall in line. Um, beyond that, what's he doing. Well, you can see the West Wing here. That's the Marine Guard out front, which means the president is here in the West Wing.We believe he's taking meetings. We know over the course of the day he'll be meeting with some of those moderates, as Melanie noted, also meeting with some of the Freedom Caucus members here. But the bottom line for ...
The debt trap: How the GOP bill would make a big problem for Americans even worse
MSNBC· 2025-07-02 04:30
Fiscal Unsustainability & Debt - US national debt is a staggering $37 trillion, and a proposed bill could add at least $3 trillion more over the next decade [3] - The bill under discussion is projected to increase deficits by approximately $4 trillion [8][19][20] - The US is on a fiscally unsustainable trajectory, with Social Security and Medicare facing potential shortfalls in less than a decade [7] - Increased debt could lead to higher interest rates for consumers and the government, impacting borrowing costs for cars, homes, and credit cards [4] Impact of Proposed Legislation - The bottom 40% of the population is expected to be worse off as a result of the bill, potentially losing health insurance and access to food stamps [9][21] - Over 10 million people are likely to lose their healthcare due to the proposed legislation [5] - The bottom 10% could be $700 worse off annually, while the top 1% may receive a $30,000 tax cut, described as a reverse Robin Hood effect [21] Trade War & Inflation - Trade wars and tariffs are expected to worsen inflation [5] - The Federal Reserve (Fed) indicated it would have cut interest rates if not for the uncertainty caused by tariffs and the trade war [5][23] Global Confidence & US Economy - There's a growing concern about declining global confidence in the US's ability to repay its debts [11] - The Fed paused on lowering interest rates due to the uncertainty caused by the Trump administration's sweeping trade policy [25]