Health insurance companies in New York State have submitted their rate requests for 2019, and on average, the 14 companies are requesting a 24% hike for individuals.
But benefit costs, wage increases and state-level funding changes have caused the county's expenses to rise by 31 percent in the previous five years, more than twice the revenue growth in that period, he said. The pension costs have risen by $13.4 million in the previous three years and are expected to double over the next seven years, he said.
This wasn’t the first time a local government had set its sights on fixing a beleaguered pension system. Lots of other municipalities have tried and failed. Illinois, which has the worst credit rating of any U.S. state, still owes an estimated $129 billion to its pension, and New Jersey is on the hook for about $115 billion in unfunded pension costs, according to its most recent estimate.
The share of euro zone government debt with negative yields fell to 35.5 percent at the end of May from 40 percent at the end of April, Tradeweb data released on Tuesday showed. That marked the lowest share of negative-yielding bonds in the bloc since Tradeweb started collating monthly data in mid-2016.
Despite a recent pause in credit card balance increases, Americans are on pace to amass a collective $4 trillion in consumer debt by the end of 2018, according to a LendingTree analysis of the latest Federal Reserve data. Consumer debt includes non-mortgage debts such as credit cards, personal loans, auto loans, and student loans. Collectively, Americans owe more than 26% of their income on consumer debt, up from 22% in 2010.
Analysts surveyed by Argentina’s central bank raised their median view of full-year 2018 inflation to 27.1 percent in May from 22 percent a month earlier and lowered their economic growth outlook to 1.3 percent from 2.5 percent, a poll showed on Monday.
Though May’s purchases were higher than those in recent months, the fall in the ECB’s Italian bond purchases may draw controversy after several Italian politicians suggested the central bank had trimmed its asset purchases of Italian debt to discourage its newly elected populist government from entertaining euroskeptic policies.
So far, companies in states that have legalized either recreational or medicinal marijuana are leading the way on dropping drug tests. A survey last year by the Mountain States Employers Council of 609 Colorado employers found that the share of companies testing for marijuana use fell to 66 percent, down from 77 percent the year before.
Of the nation's 50 largest housing markets, 52 percent were considered overvalued in April. CoreLogic determines affordability "by comparing home prices to their long-run, sustainable levels, which are supported by local market fundamentals (such as disposable income)." In March, 50 percent of markets were considered overvalued.
Which means that they also hold significant leverage in their trade relationship with the United States. Remember that the U.S. government and treasury simply exist at this point based on their ability to finance spending with paper, with the Japanese representing one of the largest buyers. And while I'm not suggesting it is Japan's first choice to dump treasuries and crash the market, thereby devaluing its own investment, these latest comments in the least signify that reducing it's exposure to U.S. debt has become more than just discussion.
Healthcare costs have been exploding even in Germany. The revisions in healthcare of about two years ago did expand the coverage, but the expanded costs were completely unexpected. That means Germany is also looking to now raise taxes to cover the higher costs due to their legislative reforms. The reforms have brought in more people in need of care and relatives than expected.
Gov. Brown signing AB 1668 sponsored by Assemblywoman Laura Friedman (D-Glendale) and SB 606 sponsored by Senator Robert Hertzberg (D-Van Nuys), will require California’s urban water districts, large agricultural water districts and municipal governments to develop plans for strict annual water budgets by January 1, 2020; start implementing long-term water use efficiency standards by June 30, 2022; and achieve their assigned water rationing goals beginning in 2027.
Gold & Silver
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