Savers have been hurt in recent years by historically low interest rates caused by the Federal Reserve’s attempts to stimulate the economy after the Great Recession. The moves have kept rates on savings accounts and certificates of deposit low, with both paying about 1% or less, according to Bankrate.com.
The figures are based on the cost of housing, food, transportation, clothing, health care, education, child care and miscellaneous expenses, like haircuts and cell phones. But the estimates don’t include the cost of college — a big-ticket expense that keeps rising.
Medical premiums for a couple would increase from $926 to $1,070 a month, with the state paying $845. A single retiree would see health insurance rates rise from $734 to $931 a month, a 27 percent increase.
The state is proposing increasing deductibles from $500 to $750 for a single person and from $1,000 to $1,500 for a family.
The latest long-term forecast shows the chances of a wet El Niño weather pattern starting this fall has decreased to about 65%, and if it does arrive, it will probably be weaker than originally expected.
The U.S. economy has nearly recovered. Now someone has to convince Americans. Nearly half think the United States is still in recession, according to a recent Wall Street Journal poll. Some 76 percent don’t think their children’s generation will have a better life than they did.
The bond deal is one of several settlements or legal issues that U.S. Bankruptcy Judge Steven Rhodes must rule on as part of the city’s historic bankruptcy-exit proposal. Under that plan, Detroit would impose about $7.4 billion in cuts on bondholders, pensioners and other creditors.
If the district does reduce wages, Johnson said it would essentially mean that teaches have taken a 20 percent pay cut since 2011.
“On top of that, the restructured health care means that the disposable income of our employees will have been reduced by somewhere around 25 percent.
The Global Footprint Network, which calculates earth overshoot day, said it would currently take 1.5 Earths to produce the renewable natural resources needed to support human requirements.
Total baggage fees for the largest airlines rose from $464 million in 2007 to $3.35 billion last year. And change fees rose from $915 million to $2.8 billion during that period.
Since the Great Recession ended five years ago, the amount of money Americans earn each hour after adjusting for inflation has actually fallen. And that largely explains why the U.S. economy is growing less than two-thirds as fast as it normally does.
Hourly wages have risen about 10% overall since June 2009, to $24.45 an hour. But over the same span they’ve slipped 0.3% in “real” or inflation-adjusted terms.
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