Posts Tagged ‘nyt

18
Jan
15

ObamaCare: Making History Every Day

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Tara Culp-Ressler: Obamacare Has Reversed A Negative Trend. Researchers Call It ‘Remarkable’

For the first time in a decade, the number of people struggling to pay their medical bills has started to decline, according to a new survey released on Thursday by the Commonwealth Fund. The researchers attributed the historic drop to the number of people gaining insurance under the health care reform law. Between 2012 and 2014 — as Obamacare’s main coverage expansion took effect — the Commonwealth researchers found that the number of people who had issues paying for health treatment dropped from 41 percent to 35 percent. Over the same time period, the people who skipped out on health services because they couldn’t afford them declined from 43 percent to 36 percent

In a press release, the researchers described the declines as “remarkable.” This marks the first time since 2005, when Commonwealth started surveying people on these questions, that the number of Americans struggling to afford medical care hasn’t increased. Commonwealth’s findings, which also documented a drop in the number of Americans going without insurance, track closely with other surveys that have reported declines in the uninsured rate under Obamacare. The number of Americans without health care was reduced by about 25 percent last year, which means that between eight million and eleven million people have gained coverage.

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Margot Sanger-Katz: Signs of A Decline In Financial Distress Connected To Medical Bills

After rising for a decade, the number of Americans experiencing financial distress from their medical bills has started to decline, a new survey has found. The result provides new evidence that the Affordable Care Act, by providing uninsured people with health insurance, is also improving their financial security, a major goal of the law. The large telephone survey, from the New York-based health research group the Commonwealth Fund, has been asking people about their medical bills every few years for a decade. In each survey through 2012, a higher percentage of Americans said they struggled to pay their medical bills, were paying off medical debt or had been contacted by a collection agency.

The most recent installment of the survey, the first since the health law’s major provisions kicked in, shows a reversal in that trend. The survey also found that fewer people were avoiding doctors’ visits because of concerns about cost. But Commonwealth also found that, over all, even people who had insurance before 2014 were having fewer problems with medical bills than they were before. That change may reflect rules in the health law that require individual insurance plans to cover a minimum set of benefits for every customer.

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22
Nov
14

Making Sure Fraud Gets Punished? Thanks, President Obama And AG Holder

U.S. President Obama and Attorney General Holder attend the National Peace Officers Memorial Service at the Capitol in Washington

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NYT: Justice Dept. Sets Record In Penalties For Fraud

The Justice Department collected a record $24.7 billion in penalties from fraud and other cases in the 2014 fiscal year, the agency said on Wednesday, as fines against banks for financial misconduct soared. Collections from civil and criminal actions, including money collected on behalf of other agencies, was $8 billion in 2013, and $13 billion in 2012. Collections in 2014 were bolstered by multibillion-dollar payouts from JPMorgan Chase and Citigroup to resolve claims they misled investors about the quality of mortgage bonds in the run-up to the financial crisis, and include $11 billion in payments made to federal agencies or states. Payouts in the 2014 fiscal year, which ended Sept. 30, also include hundreds of millions of dollars in fines levied on UBS and Royal Bank of Scotland.

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Barack Obama, Eric Holder

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29
Sep
14

More Positive Economic News? Thanks, President Obama

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NYT: Business Spending, Exports Spur Big Bounce In U.S. Economy

The U.S. economy grew at its fastest pace in 2-1/2 years in the second quarter with all sectors contributing to the jump in output in a bullish signal for the remainder of the year. The Commerce Department on Friday raised its estimate of growth in gross domestic product to a 4.6 percent annual rate from the 4.2 percent pace reported last month. The United States is bucking a spate of weaker overseas growth with the euro zone and Japan slumping, and growth in China slowing as well. the expansion in consumer spending, combined with strong business investment,

was nevertheless enough to push domestic demand ahead at its fastest pace since 2010. That suggests the economy’s recovery is becoming more durable after output slumped at a 2.1 percent rate in the first quarter because of an unusually cold winter. So far, data covering manufacturing, trade and housing suggest that much of the second quarter’s momentum spilled over into the third quarter. Growth estimates for the July-September quarter range as high as a 3.5 percent pace. When measured from the income side, the economy grew at a 5.2 percent pace during the second quarter…export growth was raised to an 11.1 percent pace, the fastest since the fourth quarter of 2010, from a 10.1 percent rate.

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Jason Furman: Third Estimate of GDP For The Second Quarter Of 2014

1. Real gross domestic product (GDP) increased 4.6 percent at an annual rate in the second quarter of 2014, the fastest pace since the fourth quarter of 2011, according to the third estimate from the Bureau of Economic Analysis. The strong second-quarter growth represents a rebound from a first-quarter decline in GDP that largely reflected transitory factors like unusually severe winter weather and a sharp slowdown in inventory investment. Growth in consumer spending and business investment picked up in the second quarter, and residential investment increased following two straight quarters of decline. Additionally, State and local government spending grew at the fastest quarterly rate in five years. However, net exports subtracted from overall GDP growth, as imports grew slightly faster than exports.

Real gross domestic income (GDI), an alternative measure of the overall size of the economy, was up 5.2 percent at an annual rate in the second quarter. 3. Over the past four quarters, real GDP has risen 2.6 percent, faster than the 2.0 percent annualized pace observed over the preceding eight-quarter period. Looking at four- and eight-quarter changes to smooth some of the quarter-to-quarter volatility, it is clear that many components of GDP are showing improvement. The growth rates of consumer spending, business investment and exports have all picked up, and the pace of declines in the Federal sector have moderated a bit. In addition, the State and local government sector has turned positive, after several years of steady cutbacks. One area that has slowed over the last four quarters is residential investment, although it did rebound in the second quarter.

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