How Are Seniors Spending Their Money?

Forty-two million seniors currently reside in the United States, and many of the baby boomers who are approaching retirement are not financially ready. Just 20 years ago, most seniors entered retirement debt-free. Now, experts wonder if retirees will able to make ends meet throughout the rest of their lives, much less not outlive their money. While fewer seniors have guaranteed incomes, such as company pensions, to provide security during retirement, more seniors are carrying debt.

Reforming Pennsylvania’s Medicaid Drug Program

In order to reduce rising health care costs, many states are forging ahead with plans to move Medicaid enrollees into managed care plans. Pennsylvania has been more aggressive than most states, enrolling more than 80 percent of Medicaid participants in managed care.1 Pennsylvania is also integrating Medicaid drug benefits with enrollees’ health plans rather than carving out drug benefits and administering them separately on a fee-for-service basis.

How Differences in the Cost of Living Affect Low-Income Families

In the United States, eligibility for government social benefits is based mainly on an absolute measure of poverty – the federal poverty level – which is an income threshold that varies by family size. The level is supposed to be the minimum income required for a household to buy such things as food, clothing and shelter. In 2013, the poverty threshold varied from $11,490 for a one-person household to $23,550 for a family of four.1

The High Cost of a Cheap Dollar

The United States and other countries intermittently or persistently pursue currency depreciation – to the point that the phrase “currency wars” is now part of many nations’ vocabularies. Switzerland and Japan remained among the holdouts for many years. But, in the last few years, central banks in both countries have joined the movement.

How Fracking Helps Meet America’s Energy Needs

Crude oil prices are hovering around $100 per barrel, and the United States is producing oil at a rate not seen since the Alaska pipeline began flowing in the 1970s. At the same time, the growth of natural gas reserves is unprecedented. Just a few short years ago, many analysts argued that oil was nearly tapped out, and that America needed to plan for a post-petroleum future. Now, however, natural gas has taken the stage.

Veterans and Higher Education

The post-September 11, 2001, GI Bill provides education benefits to veterans who serve at least 90 days on active duty. It covers up to 36 months of costs for even the most expensive public colleges in the country — such as the Universities of Pittsburgh, Vermont and New Hampshire — where tuition, books and living allowances average more than $17,500 a year. Eligible institutions include technical schools, traditional or community colleges, and flight schools.

An Economic and Policy Analysis of Medicaid Expansion in Ohio

In June 2012, the U.S. Supreme Court ruled unconstitutional those provisions of the Patient Protection and Affordable Care Act of 2010 (ACA) that deny federal matching funds for Medicaid to states that refuse to extend  eligibility to individuals and families with incomes up to 138 percent of the federal poverty level (FPL). As a result, Ohio and other states now have the opportunity to compare the costs and benefits of expanding Medicaid eligibility.

An Economic and Policy Analysis of Medicaid Expansion in Virginia

In June 2012, the U.S. Supreme Court ruled unconstitutional those provisions of the Patient Protection and Affordable Care Act of 2010 (ACA) that deny federal matching funds for Medicaid to states that refuse to extend  eligibility to individuals and families with incomes up to 138 percent of the federal poverty level (FPL). As a result, Virginia and other states now have the opportunity to compare the costs and benefits of expanding Medicaid eligibility.

Reforming Alabama’s Medicaid Drug Program

Alabama is forging ahead with plans to move Medicaid enrollees into managed care plans. In doing so, the state should change its policies of administering pharmaceutical drug benefits separately from health benefits (called a “carve out”) and reimbursing pharmacies for each prescription filled (called “fee for service”).1

How U.S. Agricultural Subsidies Harm the Environment, Taxpayers and the Poor

Proponents of agricultural subsidies often justify them as necessary to compete in international agricultural markets and ensure a variety of plentiful, inexpensive food for domestic consumers. The federal government offers a wide range of aid to farmers, including: price supports and price floor programs; crop insurance — against both lost crops and lower than expected prices; government purchases of excess food stocks; and promotion of domestic crops through international trade agreements.

More Education, Better Retirement

Recent college graduates have had a difficult time finding employment to match their skills. Indeed, unemployment is now higher among 18 to 24 year olds than any other age group. Despite the current labor market, a college degree can drastically change an individual’s earning power. But what impact does a college education have 40 years later during retirement?

ObamaCare Is the Problem, Health Savings Accounts Are the Solution

Health policy economists are puzzled by a persistent slowdown in the growth of health care spending that seems to have started in mid-2005, and accelerated since then. As the Wall Street Journal noted, “The health [spending] growth rate has flattened out at about 3.9% over the last three years — a record low since the 1960s and down from the old normal of 6.2% to 9.7% in the 2000s.”1

Veterans Affairs Fails to Curb Suicide Epidemic

Since the 1990s, veterans, policymakers and health care professionals have expressed concern over veterans’ untreated mental health challenges and high suicide rates. Many veterans experience varying degrees of post-traumatic stress disorder (PTSD), depression, anxiety and traumatic brain injury (TBI). These conditions produce patients who are inherently reluctant to seek treatment.

The Ups and Downs of Reverse Mortgages

Reverse mortgages, formally known as home equity conversion mortgages (HECM), allow seniors to tap into their home equity and receive a lump sum or annuity payment during their retirement years. This money can help pay their living expenses as long as they live or, in the case of a couple, neither spouse in lives the house. While reverse mortgages have grown in popularity, so have problems and potential trouble in the reverse mortgage market.

Drones: Look to the Sky!

Unmanned aerial vehicles, commonly known as drones, date back to the dawn of modern aviation at Kittyhawk. Modern drones have come about through a combination of technological advancements, including the refinement of propulsion methods, expansion of wireless capabilities, digitization of avionics, wide-band data transmission and the increased capabilities of satellite-based Global Positioning System navigation.

The Job Market: Is College Overrated?

The economic downturn that began in 2007 has been particularly hard on both educated workers and employers. However, a 2012 survey from the staffing firm Manpower, Inc. found that nearly half of employers are still having difficulty filling jobs. Yet, according to the Bureau of Labor Statistics, half of all college graduates under the age of 25 are either unemployed or underemployed — working part-time or at a job below their skill level.

Coal: Beginning the Long Goodbye?

Due to a boom in production and low prices, natural gas now equals coal as the cost-effective fuel of choice for electricity generation. The shift to natural gas comes as many aging coal power plants are being retired. At the end of 2010, 73 percent of all coal-fired capacity was 30 years old or older, according to the Energy Information Administration (EIA).1Coal plants are also being shuttered due to increasingly stringent environmental regulations that make it difficult and costly to upgrade facilities and equipment.

Health Care for All without the Affordable Care Act

The National Center for Policy Analysis has developed a proposal to provide essential health care for all. We can do this with the money that is already in the system. Unlike the Affordable Care Act (‘ObamaCare’), it will require no new taxes, no new spending, no individual mandate and no employer mandate. This proposal would provide patients, health care providers and insurers with the tools necessary to control costs and improve the quality of health care — without rationing by health care bureaucracies.

Which Federal Policies Help or Hurt Economic Growth?

In the last several years Washington has experimented with larger economic interventions than ever before — yet, year after year, the economy merely trudges along.  The recovery from the 2008-2009 recession has been unusually weak.  All agree that something is seriously wrong, but theories as to what the problem might be range from one extreme to another.

Save Our Seniors by Delaying ObamaCare

Regardless of whether they are supporters or opponents of the Affordable Care Act (ACA, or ObamaCare) members of Congress will have to revisit the legislation soon to correct some serious flaws. Here is a revenue neutral approach to begin the necessary corrections: Delay the scheduled cuts in Medicare spending by five years and pay for that expense by delaying the 2014 starting date of ObamaCare by two years.

A Better Way to Track Unemployment

The headline unemployment rate fell to 8.2 percent for June 2012 — down from 9.1 percent one year earlier. A declining unemployment rate is encouraging. But some of the improvement has come from those whose unemployment benefits have run out. Washington does not count these people as “unemployed.”

The Defense Implications of Rare Earth Shortages

Rare earth elements are used in everyday products: smart phones, hard disc drives, flat-screen televisions and advanced batteries. They are essential to such ‘green’ technologies as wind turbines, compact fluorescent lights and hybrid cars. In today’s world, which emphasizes cutting-edge and environmentally-friendly technologies, rare earths are everywhere.