There's a tug of war going on in the Democratic Party over who is going to be the future. You have groups like progressives, like Senator Elizabeth Warren, Senator Bernie Sanders, who have made headlines with big, splashy populist proposals that would really lower costs for a lot of Americans. These movers and shakers want the Democratic Party to respond to the 2024 losses by watering down our economic agenda and sucking up to the rich and powerful, claiming that a less progressive Democratic party will win ...

Core Insights - Medicare assists in reducing medical costs for retirees, yet healthcare spending significantly impacts their savings [1][10] Financial Impact on Retirees - A typical retiree retains only 88% of their total income and 71% of their Social Security benefits after out-of-pocket medical expenses [2][10] - Out-of-pocket costs encompass insurance premiums, doctor's visits, and prescription drugs [2] - The Social Security trust fund is projected to deplete by 2033, potentially reducing benefits to 77% of expected amounts for recipients [4] Medicare Coverage Considerations - Choosing the appropriate Medicare plan is crucial, as Medicare Advantage may not always lead to savings compared to Original Medicare [5][10] - Medicare Advantage plans, offered by private insurers, can have additional premiums and limit provider networks, which may affect retirees' choices [6][8] - Both Medicare-only and Medicare Advantage policyholders spend a similar percentage of their income on medical expenses, with 87% and 88% of retirement income remaining after costs, respectively [7] Health Savings Accounts (HSAs) - HSAs provide a tax-advantaged way to save for medical expenses, but contributions cease upon enrolling in Medicare [11] - HSA funds can be invested and used for Medicare premiums in retirement, offering a strategic financial tool for managing healthcare costs [11]

It's being called the great wealth transfer. >> You are living in the greatest transfer of wealth in human history. >> Not just little rich, rich, mega money rich.Up to $124 trillion expected to shift from the hands of baby boomers and older generations down to their younger heirs. But it's not a simple handoff like some might think. >> The cold reality, wealth doesn't transfer.Wealth gets consumed. for anyone expecting a big windfall. >> Unfortunately, I don't feel it's going to be sort of a widespread phe ...

Joining us now is Dr. . Zeke Emanuel, vice provost of global initiatives at the University of Pennsylvania. He served as a health policy adviser in the Obama administration, was a key architect of the Affordable Care Act.He's also the author of the upcoming book, Eat Your Ice Cream: Six Simple Rules for a Long and Healthy Life. Doctor, it's great to have you here with us. Skyrocketing premiums could force millions of people to make real difficult choices such as paying for their day-to-day living expenses o ...

Core Insights - The perception of financial security at age 50 with $3 million and a $1 million house is increasingly challenged by rising costs, longer lifespans, and changing expectations in today's economy [1][2][4] - Many individuals in similar financial situations feel less secure than anticipated, often due to real financial pressures rather than just mindset [2] Financial Accomplishments - Achieving a net worth of $3 million by age 50 is a significant accomplishment that often requires sacrifices, such as enduring a stressful job or living below one's means [3] - Acknowledging financial successes is important, but it is equally crucial to understand that modern financial freedom differs greatly from previous generations [4] Retirement Planning - Setting clear financial goals is essential for assessing progress; for instance, a 50-year-old with $3 million aiming for $6 million by age 65 can potentially reach that goal without additional contributions, assuming modest gains [5] - A $3 million portfolio can generate approximately $120,000 annually at a 4% withdrawal rate, but healthcare costs can significantly impact retirement savings [6]

Healthcare Affordability & Policy - The discussion centers on the high cost of living, particularly housing, groceries, and electricity, with concerns that Republican refusal to extend Affordable Care Act (ACA) tax credits will dramatically increase healthcare costs for millions [7][8] - Democrats claim to be focused on driving down the high cost of living, while Republicans are accused of lying about addressing inflationary pressures and now dismissing the affordability crisis as a hoax [8][10][11] - A bipartisan bill framework involving Representatives Gottheimer and Kiggans has been introduced as a potential path to ACA renewal [15] - 214 Democrats have signed a discharge petition to extend ACA tax credits for three years, needing only four House Republican votes to pass [16] - Senate Democrats, led by Leader Schumer, will force an up-or-down vote on extending ACA tax credits [17][18] - House Republicans are criticized for a "my way or the highway" approach, showing no interest in bipartisan solutions to fix the broken healthcare system and address the Republican-created healthcare crisis [20][21] - There's a possibility of a healthcare bill passing the Senate but failing in the House due to Republican opposition [22] Political Strategy & Redistricting - The Supreme Court's ruling on Texas redistricting is viewed as rubber-stamping a racially gerrymandered map engineered by Texas Republicans at Donald Trump's order [3] - Despite the adverse ruling, efforts will continue to ensure fair maps across the country, with California's Prop 50 cited as an example [3] - The speaker calls on more traditional or swing-seat Republicans to pressure their leadership to allow a vote on extending ACA tax credits [23]

Company Performance - Disney beat earnings expectations but missed on revenue [1] - TV networks and a soft theatrical slate weighed on results [1] Strategic Focus - Discussion of Disney's streaming strategy [1] - Focus on theme parks [1] Industry Issues - Discussion of the YouTube TV blackout [1] - Explanation of rising insurance premiums [1] - Examination of the path ahead for the ACA (Affordable Care Act) [1] - Analysis of what it will take to rein in the country's soaring health care costs [1] Government & Policy - Government starting to reopen after President Trump signed a funding bill, ending the shutdown [1]

Healthcare Industry Challenges - Healthcare insurance premiums are likely to rise sharply next year [1] - The current healthcare system sees inflation far outpace inflation in other arenas [3] - High cost of healthcare, drug development, and skyrocketing healthcare costs in facilities contribute to a system built 80 years ago with built-in inflation [6] - 100 million Americans don't have access to employer-sponsored health insurance [6] - If the uninsured rate increases, it will reverse to an $80 billion problem over the next 10 years [7][8] Affordable Care Act (ACA) Impact - 50% of American small businesses use the Affordable Care Act, and small businesses contribute 50% of the GDP [4] - 27% of farmers use the Affordable Care Act, with the average farmer making $60,000 per year gross [4] - The Affordable Care Act has reduced the uninsured rate from 15% to 8%, saving $10 billion per year in uncompensated care and charity costs [7] - 75% of the people in the ACA today are from red states [5] Proposed Solutions & Perspectives - Proposes creating a qualified account for healthcare spending, putting consumers in charge of buying the product to impact price [9][10] - Suggests redoing the whole system and using the individual market as a single risk pool [12] - Advocates for subsidies to be put into Health Savings Accounts (HSAs) [14] - 40% of Americans borrowed $74.9 billion from banks last year to pay their out-of-pocket costs for healthcare [15] - Argues for evolving the current system, emphasizing the network and risk pool concepts [17][18]

Government Shutdown & Fiscal Policy - The House is expected to vote to reopen the government after a shutdown of over 50 days [4][13] - Democrats claim Republicans are blindly loyal to Donald Trump and not interested in addressing the rising costs impacting American people [6] - Republicans accuse Democrats of filibustering important spending bills, including those for food stamps, air traffic controllers, and TSA agents [64] - A potential government shutdown looms in January, with a 50/50 chance of it occurring [12][84] - Discussions around healthcare and the Affordable Care Act (ACA) are needed, as rates are increasing for the American people [85][88] Healthcare & ACA - Democrats emphasize the issue of affordability, stating Republicans have done nothing but raise prices for working families [11] - The debate over extending Obamacare subsidies is ongoing, with potential votes in the House and Senate [12] - Republicans express concerns about the structure of ACA subsidies, alleging waste, fraud, and abuse, with funds padding the pockets of insurance companies [68] - There is a need to address the rising cost of healthcare, with potential negotiations and conversations to reform or replace Obamacare [64][69] - The President suggests sending cash directly to people to negotiate with insurers, but Democrats are asking for the Republican plan to replace or reform Obamacare [69] Epstein Files & Transparency - Newly released emails related to Jeffrey Epstein are intensifying scrutiny over President Trump's relationship with the disgraced financier [3][19][44] - A discharge petition to release the Epstein files has reached 218 signatures, potentially leading to a vote in early December [3][14][16] - The White House claims the emails are a distraction from the Democrats as they try to navigate the shutdown [22] - There are legal questions surrounding the emails and whether they create legal exposure for President Trump [48] - The release of the files is about accountability and listening to the demands of the American people [17] Economic Indicators & Federal Reserve - Subprime borrowers at least 60 days past due on car payments are rising to 665%, the highest rate since data collection started 30 years ago [80] - The Atlanta Fed President plans to retire at the end of his current term in February [57] - A potential quarter-point rate cut by the Federal Reserve is in question, with policymakers divided about the outlook for policy [61]

Joining us now, a couple of Capitol Hill insiders. Former Republican Congressman Garrett Graves from Louisiana and Michael Hardaway, former spokesperson for Democratic leader Hakee Jeff. And I know Michael, you're trying to get that if in your ear so you can hear when we play those sound bites.Good to have you both as part of this conversation. Thanks so much. Here we are, day two of the shutdown.Congress isn't in session. We just listened to uh at least Speaker Johnson talk this morning about the pain that ...