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Archive for the 'Medicare/Medicaid' Category
January 19, 2011
January 19, 2011 No Guest Today we began the show with another “By the Numbers” list, a compilation of interesting facts. 1. A Couple Trillion: The size of the total U.S. stock market increased by +$2.2 trillion last year, finishing the 2010 calendar year at $15.5 trillion of market capitalization. 2. Missing the Best Days: The total return for the S&P 500 over the last 50 years is +9.7% per year. Removing the 50 best percentage gain days over the last 50 years from that calculation (i.e., 50 days in total, not 50 days per year) drops the annualized return by more than half to +4.5%per year. There were 12,586 trading days in the last 50 years. 3. Cities in Trouble: 15 municipalities in the USA filed for bankruptcy protection in the last 2 calendar years (i.e., 2009-10) 4. Where A Lot of People Live: 1 out of every 4 Americans lives in either Florida, Georgia, Illinois or California, the 4 states that had the most bank failures nationwide in 2009 and 2010, according to the Census Bureau 5. USE CASH: Revolving credit, which includes credit card debt, fell in November 2010, its 27th consecutive monthly decline. This nationwide total peaked in August 2008 (at $974 billion) and has fallen every month since then, dropping 18% from its highest point to $796 billion We then went to discuss the issue of the Baby Boomer Generation and its effect on Medicare and other economic changes. The first wave of Baby Boomers turned 65 years old on January 1st, which started a flood of Medicare benefits that experts fear could drain the economy and hold political repercussions for President Obama. Medicare currently covers 46 million people and costs the government $500 billion a year. But in the next 20 years, more than 80 million people will be eligible for coverage. This poses a huge problem for the future of Medicare. We also announced that our friends of the Marriage Resource Center will be hosting their annual Celebrate Marriage Dinner on February 414. Call the MRC for more details at 410-386-9003.