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Wednesday, July 26, 2017

Medicaid, pension costs create budget complications for U.S. states

NEW YORK (Reuters) - A sluggish forecast for U.S. economic growth as well as an increase in U.S. states' Medicaid and pension contribution costs is creating a budgetary squeeze in many state capitols, according to a research report issued by S&P Global Ratings on Monday.

While the risk of a recession within the next 12 months has fallen into a 15-20 percent range from 20-25 percent, the rate of economic expansion "is expected to remain fairly anemic at 1.8 percent over the longer term (roughly 10 years), well below the 3.0 percent average growth rate that prevailed from 1980 to 2000," the report said.

"And while the risk that federal policy could trigger a recession has eased, the potential for a dramatic scaling-back of federal aid for Medicaid has never been greater," the report said.

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4 comments:

Anonymous said...

The country is really screwed up and I hope president Trump can fix it but not so sure.

Anonymous said...

There's no fixing this mesd, it literally will take an all out collapse of the system and pick up the pieces afterwards, circa 1930's

Anonymous said...

Obamacare is about to collapse. Too much fraud in Medicare and Medicaid will cause the same to happen if something is not done soon.

Anonymous said...

It's in the Lord's hands! Trump was put in office by divine intervention!!! Continue to pray for Trump, his family and our country! Prayer is powerful!!!