Shortages are becoming ever more severe in Venezuela. According to the World Health Organization, hospitals lack 95 percent of necessary medicines. Many people are undernourished and they receive no help from the government.
Transparent California’s report notes that the California Public Employee Retirement System (CalPERS) paid out more than $20 billion to 646,843 pensioners. Of those retirees, 22,826 earned pensions more than $100,000 in 2016. The average pension for a full-career former CalPERS employee in 2016 was $66,400.
The problems in Hartford are similar to cities across the United States that have sought relief through bankruptcy: its tax base and population have shrunk and its pension obligations and debts have piled up.
As of July 31, the funded ratio nudged 0.2% higher to 83.7%, from 83.5% at the end of June, and the funded ratio has been vacillating between 83% and 84% over the first seven months of 2017.
Treasury Secretary Steven Mnuchin has warned congressional leaders that the government will run out of money to pay its bills by Sept. 29 unless lawmakers vote to raise the debt limit. Funding to keep the government open is set to expire two days later, on Oct. 1, unless Congress can agree on a spending deal during the approximately three weeks it will be in session in September.
If you miss a payment on your federal student loans you have 270 days to make a payment before your debt goes into default. Once federal student debt is in default, the government is able to garnish your wage, your Social Security check, your federal tax refund and even your disability benefits.
For most Americans, whose median household income, adjusted for inflation, is lower than it was at its peak in 1999, borrowing has been the answer to maintaining their standard of living. The increase in debt helps explain why the economy’s main source of fuel is providing less of a boost than in the past. Personal spending growth has averaged 2.4 percent since the recession ended in 2009, less than the 3 percent of the previous expansion and 4.3 percent from 1982-90.
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