Have nothing to do with the [evil] things that people do, things that belong to the darkness. Instead, bring them out to the light... [For] when all things are brought out into the light, then their true nature is clearly revealed...

-Ephesians 5:11-13

Tag Archives: Medicaid

Puerto Rico’s Vote for Statehood Means Nothing

This article appeared online at TheNewAmerican.com on Monday, June 12, 2017:

Despite 97 percent of Puerto Ricans voting for statehood in Sunday’s plebescite, the chances of adding the island as the country’s 51st state are between slim and none.

The island’s voters had three choices on Sunday’s ballot: Stay as a U.S. territory, move ahead with statehood, or seek full independence as a sovereign nation. This is the fifth vote on the issue since 1967, with the first three failing to gain a majority vote for statehood. That majority is required for the U.S. Congress to consider it. The fourth vote was marred by some 500,000 voters boycotting it to protest the ballot allegedly being rigged in favor of statehood.

The chances this time aren’t any better.

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Puerto Rico’s Governor Seeks an American Taxpayer Bailout

This article was published by The McAlvany Intelligence Advisor on Monday, June 12, 2017:

Ever since he announced his campaign for governor of Puerto Rico, Ricardo Rossello, who was installed as the island’s new governor in January, has been pushing for statehood. Offloading his country’s financial problems onto American taxpayers is the American way. By gaining statehood, Puerto Rico would be poorer than Mississippi, the poorest of the American states, and therefore would be the likely recipient of federal largesse by the truckload. As Rossello said so clearly,

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Trump’s Budget: a Mixture of Magic, Hope, Pixie Dust, and Gimmicks

This article appeared online at TheNewAmerican.com on Tuesday, May 23, 2017:

Now that the long-awaited Trump budget for Fiscal Year 2018 has been released, it hasn’t failed to deliver what skeptics initially expected: Growth coupled with lower taxes will drive the economy to levels that will balance the budget — by 2027  — much of it based on magic, hope, pixie dust, and gimmicks.

First, the “magic.”

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Trump Preframes the Budget Conversation with His “Blueprint”

This article was published by The McAlvany Intelligence Advisor on Friday, March 17, 2017: 

After reading Donald Trump’s Art of the Deal, “Peter W.” wrote how “The Donald” preframes a conversation with an opponent: “When he makes an opening bid, it is far away from where his deals end. It is a poker game with high stakes, and it is up to the other to negotiate a better position.”

That is what Trump and his OMB Director Mick Mulvaney offered on Wednesday: the opening bid in the budget conversation to take place later on this year. Mulvaney was very clear about that: “This Blueprint is not the full Federal budget, [but] it does provide lawmakers and the public with a view of the priorities of the President and his Administration.”

It also serves to warn the public – the American taxpayer who is the deeply interested third party in that conversation – that the budget is going to be much larger than the one Obama left his office with in 2017, which was $4.15 trillion.

It’s called “America First – A Budget Blueprint to Make America Great Again” and it’s Trump’s attempt to set the parameters of the conversation with Congress after his full budget is released in late May. The strategy might have worked well for Trump – he brags that he successfully closed more than 100 real estate “deals” during his career – but dealing with 535 members of the House and Senate is, to put it mildly, going to be a different cup of tea.

Said Trump:

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Trump’s “Blueprint” Budget Is a Policy Statement; Real Budget to Follow

This article appeared online at TheNewAmerican.com on Thursday, March 16, 2017:

English: Official portrait of US Rep. Mick Mul...

Mick Mulvaney. Trump’s OMB Director

President Donald Trump’s Office of Management and Budget (OMB) unveiled “America First — A Budget Blueprint to Make America Great Again” on Thursday, noting that the president’s actual budget will be released in May. President Trump and his OMB Director Mick Mulvaney joined in outlining the “blueprint” without disclosing hard numbers, revenue projections, or even an economic outlook to back it up. It was, in other words, a policy statement, with details to follow.

Said Trump:

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Bill to Repeal Obamacare Represents Major Paradigm Shift

This article was published by The McAlvany Intelligence Advisor on Friday, February 17, 2017:

English: A Portrait of Thomas Jefferson as Sec...

Thomas Jefferson

Thomas Jefferson said many things on which classical liberals and libertarians agree. The one most apropos to Obamacare is this: “The natural progress of things is for liberty to yield and government to gain ground.”

Anything that requires government force (or threat of) to gain compliance is, on its face, immoral. But Obamacare did something else: it was a deliberate forced attempt to shift personal responsibility for one’s health care from a citizen to his government. Jefferson had this to say about that:

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LOL Illinois: Corporate Group Works to Keep State From Becoming a Laughingstock

This article appeared online at TheNewAmerican.com on Wednesday, December 28, 2016:  

English: 1987 Illinois license plate

The name of the group LOL Illinois can taken two ways: Land of Lincoln, or Laughing Out Loud. As Scott Santi, chairman of Illinois Tool Works, which employs 48,000 workers around the world, noted:

There’s a crisis of confidence in terms of a plan to address some pretty significant structural problems in the state. It’s challenging for Illinois to be competitive given the uncertainty around the fiscal crisis.

“Crisis of confidence”? “Challenging”? “Uncertainty”? Illinois was headed into oblivion until Bruce Rauner, the first Republican governor in 12 years, faced reality.

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The Coming Puerto Rican Bailout

This article appeared online at TheNewAmerican.com on Monday, August 29, 2016:  

On or before September 1, President Obama will complete the eight appointments to the oversight board created when he signed PROMESA (Puerto Rico Oversight, Management and Economic Stability Act) into law on June 30. Those already on the board include Republican Senators Orrin Hatch and Marco Rubio, Democrat Senator Bill Nelson and Congresswoman Nydia Velázquez.

In theory the board will have the power to override the island’s government, delay litigation, fire government workers, and “suggest” other ways the island can begin to recover from its present economic implosion. It has been described as a “de facto” Chapter 9 bankruptcy. In practice it is likely that,

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Vulture Funds Expecting to Profit Handsomely from Puerto Rico’s Problems

This article was published by The McAlvany Intelligence Advisor on Monday, August 29, 2016:  

English: Map of Peuto Rico, with inset showing...

Map of Peuto Rico, with inset showing it’s position in relation to American continents.

George W. Plunkitt was not the world’s first dishonest politician, but he might have been one of the first ones to be honest about his dishonesty. Plunkitt was a Tammany Hall pol who served in the New York State Assembly and then in the New York State Senate around the turn of the 20th century. He called what he did – and what made him wealthy – “honest graft.” He defined “dishonest graft” as efforts to work solely for his own interests. “Honest graft,” on the other hand, was graft that worked for the interests of his own party.

He made his money by

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CEO Resigns From Obama’s Entrepreneur Board

This article appeared online at TheNewAmerican.com on Monday, August 8, 2016:  

When Elizabeth Holmes (above), the 32-year-old CEO of medical technology startup Theranos, was named as one of President Obama’s presidential ambassadors for global entrepreneurship (PAGE) last year, she sounded like the winner of a beauty contest, telling her audience how she was going to save the world:

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Violating Rule Number One Costs Careless Silicon Valley Investors Millions

This article was published by The McAlvany Intelligence Advisor on Monday, August 8, 2016:  

Every investor has, or at least should have, rules. A few good ones are: If your barber starts giving you investment advice, find another barber. Tips are for waiters. Never get into something that you can’t get out of. Always set a stop loss. If you miss one opportunity, don’t worry: there’s another one right behind it.  Wherever possible, hedge. And so on.

Above all these is Rule Number One, a rule so hackneyed it’s almost embarrassing to put it down on paper:

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Three Charged in $1 Billion Medicare/Medicaid Fraud Scheme

This article appeared online at TheNewAmerican.com on Monday, July 25, 2016:  

Seal of the United States Department of Justice

Last Friday the Justice Department charged a Miami-area healthcare operator, a hospital administrator, and a physician’s assistant with conspiracy involving submitting fraudulent bills to Medicare and Medicaid exceeding, for the first time, $1 billion.

The three included Philip Esformes, the owner of more than 30 Miami-area nursing and assisted-living facilities, hospital administrator Odette Barcha, and physician assistant Arnald Carmouze. They were charged with money laundering, conspiracy to defraud the U.S. government, and receiving kickbacks, along with other charges.

The conspiracy had been going on for 14 years, and came to a end with the help of the Medicare Fraud Strike Force (MFSF), which began investigating healthcare fraud in March 2007. Since that time, nearly 3,000 defendants,

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How Does the “Honor System” Work When There Is No Honor?

This article was published by The McAlvany Intelligence Advisor on Monday, July 25, 2016:  

English: Photograph of President signing the M...

President Lyndon B. Johnson signing the Medicare Bill

Robbins Geller Rudman & Dowd LLP uses www.whistleblower-lawfirm.com as its URL where it advertises its legal services: Government Procurement Fraud, Pharmaceutical Fraud, Medicare and Medicaid Fraud, Defense Contractor Fraud, Education Fraud, Banking and Mortgage Fraud, Securities Fraud, and Tax Fraud.

Business is booming, especially with Medicare and Medicaid fraud growing, it seems, almost by the day. The firm explains why:

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Latest CBO Report “Grim”; Offers No Solutions to National Debt

This article appeared online at TheNewAmerican.com on Friday, July 15, 2016:  

Ida May Fuller, the first recipient

Ida May Fuller, holding the first check from the Social Security Administration

On Tuesday, the Congressional Budget Office (CBO) published its annual report on the country’s long-term budgetary and financial outlook. One need only to see the chart on Page One of the report to see why CBO’s Justin Bogle said the outlook was “grim”: It shows government spending growing so much more quickly than anticipated revenues that annual deficits will likely triple in the next 30 years, if not sooner. Bogle called this scenario unsustainable.

For the first time, the CBO built into its assumptions the projected impact of ObamaCare, the country’s declining birth rate, the explosion of Baby Boomers demanding benefits from Social Security and Medicare over that period, plus Boomers’ increasing life expectancies and the increasing costs of providing them healthcare along the way.

It also assumed that government debt will

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About That New, Dreadfully Misnamed Puerto Rico Bailout law

This article was published by The McAlvany Intelligence Advisor on Friday, July 1, 2016:  

English: Map of Peuto Rico, with inset showing...

Investors saw the market values of their Puerto Rican bonds soar with news that Congress passed the “Puerto Rico Oversight, Management and Economic Stability Act” (PROMESA). They had a right to be happy: prior to the news their long bonds were trading at about 62 cents on the dollar. Afterwards they jumped to 66 cents. Still a paper loss of a third of their initial investment, but better than anticipated.

What’s anticipated is that the new oversight board, populated with politicians (but none from Puerto Rico), will solve all of the island’s problems,

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Puerto Rico Bailout Deceptively Called “Restructuring”

This article appeared online at TheNewAmerican.com on Friday, May 20, 2016:  

Corcho Beach in Vieques island, Puerto Rico.

Corcho Beach in Vieques island, Puerto Rico.

Hidden behind the tentative agreement announced by House Speaker Paul Ryan on Thursday that would allow Puerto Rico some breathing room over its massive $73-billion national debt are the bailouts that are already in place.

The agreement is based on the bill by Rep. Rob Bishop (R-Utah) that creates another government bureaucracy to oversee the orderly “restructuring” (read: massive haircut for PR’s bondholders). When he presented his bill, Bishop said it would “give Puerto Rico access to a court-enforced debt restructuring in exchange for the imposition of a federal fiscal oversight board.”

Ryan said the agreement would allow the island territory to

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Public Pension Plans Cut Rate of Return Targets; Still Not Enough

This article appeared online at TheNewAmerican.com on Monday, September 7, 2015:  

Twenty million pension plan beneficiaries have just been warned: You won’t be getting what you have been promised when you retire. Part of the reason is that pension managers have been far too optimistic in estimating what they are able to earn on your money. And part of the reason is that they continue to remain so.

In its analysis of 126 public pension plans, the National Association of State Retirement Administrators (NASRA) noted that more than two-thirds of them have reduced their estimates, however slightly, since 2008, while 39 of them are still stuck

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U.S. Financial Outlook has “Worsened Dramatically”

This article first appeared online at TheNewAmerican.com on Wednesday, June 17, 2015: 

English:

This graph is outdated but revealing

 

In its just-released report “The 2015 Long-Term Budget Outlook,” the Congressional Budget Office stated bluntly:

The long-term outlook for the federal budget has worsened dramatically over the past several years, in the wake of the 2007-2009 recession and slow recovery…. If current law remained generally unchanged in the future … growing budget deficits … would push [the national] debt above its current high level.

It’s all about government spending that’s baked into the cake:

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Boston University Economist Calls Out Congress on Enormous Fiscal Gap

This article first appeared online at TheNewAmerican.com on Thursday, March 12, 2015:

Logo of the United States Government Accountab...

Logo of the United States Government Accountability Office

During his annual trek to Washington, D.C., to lecture Congress on its spendthrift habits, Boston University economist Laurence Kotlikoff took the gloves off this year. He dressed down Senator Mike Enzi, chairman of the Senate Budget Committee, along with the committee’s members:

Let me get right to the point. Our country is broke. It’s not broke in 75 years or 50 years or 25 years or 10 years.

 

It’s broke today.

 

Indeed, it may well be in worse fiscal shape than any development country, including Greece.

It isn’t just Enzi, or his committee, or the present Congress, that’s responsible for a fiscal gap that’s vastly larger than that projected by the Congressional Budget Office (CBO). It’s the idea that the country can borrow without limit because

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U.S. Government’s Interest Costs to Quadruple in 10 Years

This article first appeared online at TheNewAmerican.com on Thursday, February 5, 2015: 

On Tuesday, the Wall Street Journal reported that the federal government will be paying $800 billion annually just to service the interest on its massive debt by 2025, up from just over $200 billion currently. By 2021, those interest costs will equal what the government is projected to be spending on national defense, and on non-defense (so-called “discretionary” items), and will greatly exceed those two budget items just by 2025. The Journal also noted that “non-discretionary” items (so-called “mandatory” expenditures) will continue their inexorable march upward, from $2 trillion currently to more than $4 trillion by 2025.

Surprisingly, few eyebrows were raised over the announcement,

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Many of the articles on Light from the Right first appeared on either The New American or the McAlvany Intelligence Advisor.