Senior Advisors
  • Home
  • FREE Quotes
  • About YOU
    • Turning 65, Ready to enroll?
    • Working Past Age 65?
    • Already on Medicare, Looking to Save Money?
    • Currently on a Retiree Plan?
  • About Us
  • Products
    • Medicare Supplements & Medicare Advantage >
      • Medicare Supplement - Plan F >
        • Plan F (2022)
        • Plan F (2023)
      • Medicare Supplement - Plan G >
        • Plan G (2022)
        • Plan G (2023)
      • Medicare Supplement - Plan N >
        • Plan N (2022)
        • Plan N (2023)
    • Medicare Part D - Prescription
    • Medicare & Dental
    • International Travel
    • Long-Term Care Insurance
    • Cancer and Heart Attack or Stroke Insurance
    • Medigap Plans
  • Workshops
    • Register for Workshop
    • Watch Workshop Now
  • Carrier Partners
  • Medicare Blog
  • Testimonials
  • Contact Us
  • Become an Agent
  • Areas We Serve
    • Basking Ridge, NJ
    • Livingston NJ
    • Medford, NJ
    • Mountainside, NJ
    • Mount Laurel, NJ
    • Philadelphia, PA
    • Phoenix, AZ
    • Scotch Plains, NJ
    • Scottsdale, AZ
    • Short Hills, NJ
    • Summit, NJ
    • Westfield, NJ
    • Princeton, NJ
    • Washington Township
    • Monroe Township, NJ
  • Medicare FAQs
  • Coffee with Justin
  • Medicare Minute

CBO 2016 Long-Term Budget Outlook - "Substantial Risk"

7/18/2016

0 Comments

 
Picture

​In the media today, it is tough to find an objective source of information.  You may have noticed that I am very interested in non-partisan reports, and I try to keep our blog updated with my perspective on these reports.


About a month ago, the Medicare Board of Trustees Report was released which showed a projected depletion of the Hospital Insurance fund by 2028.  You can find my article here related to this report.
 
CBO 2016 Long-Term Budget Outlook
Last week (July 12, 2016), the non-partisan Congressional Budget Office (CBO) released the Long-Term Budget Outlook, which is a broader report that shows similar concerning trends. •  


Here are a few of the key takeaways directly from the recent CBO Report.
  • “If current laws governing taxes and spending did not change, the United States would face steadily increasing federal budget deficits and debt over the next 30 years, according to projections by CBO.“
  • “Federal debt held by the public, which was equal to 39 percent of gross domestic product (GDP) at the end of fiscal year 2008, has already risen to 75 percent of GDP in the wake of a financial crisis and a recession.”
  • “In CBO’s projections, that debt rises to 86 percent of GDP in 2026 and to 141 percent in 2046—exceeding the historical peak of 106 percent that occurred just after World War II. “
  • “The prospect of such large debt poses substantial risks for the nation and presents policymakers with significant challenges.”

​This strong language is from a non-partisan CBO report. This is not a scare tactic from one side of the aisle.  We need this to be one of the top issues that are policy makers are focusing on after the election. Medicare & Social Security are two great benefits in this country – but we need policy reform initiated ASAP to keep these systems financially viable for generations to come.


I am always curious to get people's perspectives on these key issues. Is this economic projection blown out of proportion or is it a major risk?  What are some suggested solutions?  I presented a few solution paths in my last article on the Medicare Board of Trustees Report, . Feel free to share your thoughts on our blog.

0 Comments



Leave a Reply.

    Justin Lubenow

    See bio here

    CLICK HERE TO SEND US A TEXT!

    Archives

    January 2023
    November 2022
    September 2022
    August 2022
    June 2022
    April 2022
    March 2022
    January 2022
    November 2021
    September 2021
    July 2021
    April 2021
    March 2021
    February 2021
    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    October 2019
    September 2019
    August 2019
    July 2019
    May 2019
    April 2019
    February 2019
    January 2019
    December 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    March 2018
    February 2018
    January 2018
    November 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    December 2016
    November 2016
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015

    Categories

    All

    RSS Feed

Our Services
Company

Products & Services
Carrier Partners
About
Testimonials
Contact Us
Moorestown Office |  214 W. Main Street, Suite 101, Moorestown, NJ 08057 | Tel:856-866-8900
 Servicing Moorestown, Cherry Hill, Mount Laurel, Haddonfield, Voorhees, Medford, Marlton,  Philadelphia, surrounding towns, and licensed in 30+ other states as well.
 
Cranford Office        |  15 Alden Street, Suite 8, Cranford, NJ 07016                  | Tel: 908-272-1970 
 Servicing Cranford, Westfield, Summit, Scotch Plains, Mountainside, Berkeley Heights, New      Providence, Basking Ridge, surrounding towns, and licensed in 30+ other states as well.
​
Phoenix Office  | P.O. Box 
71283. Phoenix, AZ 85050.                                         | Tel:  602- 996-1549
Servicing Phoenix, Scottsdale, Peoria, Sun City, Sun City West, Paradise Valley, Fountain Hills, Cave Creek, surrounding towns and licensed in 30+ other states as well.

Email:  info@senior-advisors.com                                     (Se Habla Español -Tel: 908.481.5678)   

Not connected with or endorsed by the United States government or the federal Medicare program.
​
​
Copyright © 2022 Senior Advisors, LLC       |     Licensing & Legal     |     Privacy Policy

  • Home
  • FREE Quotes
  • About YOU
    • Turning 65, Ready to enroll?
    • Working Past Age 65?
    • Already on Medicare, Looking to Save Money?
    • Currently on a Retiree Plan?
  • About Us
  • Products
    • Medicare Supplements & Medicare Advantage >
      • Medicare Supplement - Plan F >
        • Plan F (2022)
        • Plan F (2023)
      • Medicare Supplement - Plan G >
        • Plan G (2022)
        • Plan G (2023)
      • Medicare Supplement - Plan N >
        • Plan N (2022)
        • Plan N (2023)
    • Medicare Part D - Prescription
    • Medicare & Dental
    • International Travel
    • Long-Term Care Insurance
    • Cancer and Heart Attack or Stroke Insurance
    • Medigap Plans
  • Workshops
    • Register for Workshop
    • Watch Workshop Now
  • Carrier Partners
  • Medicare Blog
  • Testimonials
  • Contact Us
  • Become an Agent
  • Areas We Serve
    • Basking Ridge, NJ
    • Livingston NJ
    • Medford, NJ
    • Mountainside, NJ
    • Mount Laurel, NJ
    • Philadelphia, PA
    • Phoenix, AZ
    • Scotch Plains, NJ
    • Scottsdale, AZ
    • Short Hills, NJ
    • Summit, NJ
    • Westfield, NJ
    • Princeton, NJ
    • Washington Township
    • Monroe Township, NJ
  • Medicare FAQs
  • Coffee with Justin
  • Medicare Minute