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To Accompany the August 29, 2017 edition of Tidbits
Bob Jensen at Trinity University
USA Debt Clock --- http://www.usdebtclock.org/ ubl
How Your Federal Tax Dollars are Spent ---
To Whom Does the USA Federal Government Owe Money (the booked
obligation of $20+ trillion) ---
The US Debt Clock in Real Time --- http://www.usdebtclock.org/
Remember the Jane Fonda Movie called "Rollover" --- https://en.wikipedia.org/wiki/Rollover_(film)
One worry is that nations holding trillions of dollars invested in USA debt are dependent upon sales of oil and gas to sustain those investments.
To Whom Does the USA Federal Government Owe Money (the
unbooked obligation of $100 trillion and unknown more in contracted
The biggest worry of the entitlements obligations is enormous obligation for the future under the Medicare and Medicaid programs that are now deemed totally unsustainable ---
How Americans Get Health Insurance ---
Sometimes the grass is greener on
the other side because it's been fertilized with more bullshit.
Shoot for the space in between,
because that's where the real mystery lies.
Only those who
will risk going too far can possibly find out how far one can go.
is a crack in everything, that’s how the light gets in.
Be brave enough to start a conversation that matters.
Even conversations that are not politically correct.
Why, we grow rusty and you
catch us at the very point of decadence --- by this time tomorrow we may have
forgotten everything we ever knew. That's a thought isn't it? We'd be back to
where we started --- improvising.
Tom Stoppard, Rosencrantz and Guildenstern are Dead (Act I)
It's hard to beat a person who never gives up.
Historic Home Run Hitter
What's sad is to witness what Syria has become because nobody will give up.
And "because they're
nonstate actors, it's hard for us to get the satisfaction of [Gen.] MacArthur
and the [Japanese] Emperor [Hirohito] meeting and the war officially being
over," Obama observed, referencing the end of World War II.
We must be willing to get rid of the
life we've planned, so as to have the life that is waiting for us.
If everyone is thinking alike, then
somebody isn't thinking.
George S. Patton
If you don't know where you're going, you might
not get there.
Happiness is like a butterfly: the
more you chase it, the more it will elude you, but if you turn your attention to
other things, it will come and sit softly on your shoulder.
Henry David Thoreau
ABC, NBC, And CBS Pretty Much Bury IT Scandal Engulfing
Debbie Wasserman Schultz's Office ---
The Atlantic: The Rise
of the Violent Left ---
The New Yorker: Julian Assange, a Man Without a
Political Lie: Gov. Terry McAuliffe says
militia members at Saturday's Charlottesville rally had better equipment than
state troopers. Not really ---
IRS Rehires 213 Employees Ousted for
Falsifying Documents, Avoiding Taxes, Other Offenses ---
United Kingdom: [Moslem] rapists handed
lower sentences because their victims were white ---
The white-supremacist protesters who converged
on the University of Virginia last Friday presented the campus police with a
largely unprecedented problem: How to gauge the safety threat posed by
outsiders, many armed with guns and other weapons, who streamed onto the campus.
Peter Schmidt, Chronicle of Higher Education
Does biology explain why men outnumber women
The Ideological Slipperiness of the Kennedy
The Atlantic: Trump Knows Exactly What He’s Doing
Economic growth, income inequality and environment:
assessing the applicability of the Kuznets hypotheses to Asia ---
49 States Legally Allow Employers to
Discriminate Based on Weight ---
That, of course, does not mean that employers themselves do not have policies against such discrimination except in extreme cases where obesity interferes with job performance. Sometimes overweight employees are amazing in terms of how long they can work on their feet. This is an analog rather than digital basis for discrimination as well as being variable based upon the employee's ability to perform. Many of the same issues arise with discrimination based upon health.
Harrison Councilman James Doran is one busy
man. Doran, 56, holds three public jobs, is an unpaid board member for a Hudson
County agency and was sworn in last month as a paid commissioner for the Passaic
Valley Sewerage Commission. That position comes with a pension -- Doran's third.
In all, Doran earns over $273,000 from taxpayers annually. In his off time, he
runs Harrison Realty, where he is co-owner.
California is on its way to passing a new law
that makes it illegal to call transgender senior citizens a pronoun they don't
like. For example, if an elderly person who was born male and lives in a
long-term care facility wishes to be called "her" or "she," the workers there
had better do it or face the consequences.
New York Times: North Korea’s success in
testing an intercontinental ballistic missile that appears able to reach the
United States was made possible by black-market purchases of powerful rocket
engines probably from a Ukrainian factory with historical ties to Russia’s
missile program, according to an expert analysis being published Monday and
classified assessments by American intelligence agencies ---
Wilber Zarate filed a lawsuit against the People for
Ethical Treatment of Animals for taking his 9-year-old daughter’s dog from their
mobile park home and then putting the pooch down ahead of the state’s mandatory
five-day grace period.... In the suit, Zarate claimed PETA works under a board
policy of euthanizing animals because it “considers pet ownership to be a form
of involuntary bondage.”
The NAACP has called for a boycott of
the NFL ---
Nearly 70% of the NFL players are black.
Cuba 'acoustic attack' gave U.S. diplomats
brain injuries, medical records show ---
LA Times: U.S. warns citizens about
traveling to Mexico's Cancun and Los Cabos as violence surges ---
“The truth is, the Democrats have a pretty
poor history on Civil Rights, including Nancy Pelosi’s own father who was the
Mayor of Baltimore — and was one of the people who dedicated statues to Robert
E. Lee and ‘Stonewall’ Jackson, and in his speech said that they defended
‘sacred institutions.’ ---
Seattle Named After a Slave Owner
say that patriotism is the last refuge
To which a scoundrel clings.
Steal a little and they throw you in jail,
Steal a lot and they make you king.
There's only one step down from here, baby,
It's called the land of permanent bliss.
What's a sweetheart like you doin' in a dump like this?
rifleman’s stalking the sick and the lame
Preacherman seeks the same, who’ll get there first is uncertain
Nightsticks and water cannons, tear gas, padlocks
Molotov cocktails and rocks behind every curtain
False-hearted judges dying in the webs that they spin
Only a matter of time ’til night comes steppin’ in
Oh, what did you see, my blue-eyed son
And what did you see, my darling young one
I saw a newborn baby with wild wolves all around it
I saw a highway of diamonds with nobody on it
I saw a black branch with blood that kept drippin'
I saw a room full of men with their hammers a-bleedin'
I saw a white ladder all covered with water
I saw ten thousand talkers whose tongues were all broken
I saw guns and sharp swords in the hands of young children
And it's a hard, and it's a hard, it's a hard, it's a hard
It's a hard rain's a-gonna fall
Hear Bob Dylan’s Newly-Released Nobel Lecture: A Meditation on Music, Literature
& Lyrics ---
Patti Smith Sings Bob Dylan’s “A Hard Rains Gonna Fall” at
Nobel Prize Ceremony & Gets a Case of the Nerves ---
Who Pays USA Taxes?
USA Debt Clock --- http://www.usdebtclock.org/ ubl
FDR Library Virtual Tour (Roosevelt) --- http://www.fdrlibraryvirtualtour.org
Of the 3,100 illegal immigrants arrested by Canada for crossing its borders in July 2017, 96% crossed into Quebec?
Why is Quebec to popular?
It's probably because the primary language in Quebec is French. Most of those asylum seekers are from Haiti which is also French speaking.
Reuters: Canada sees 'unsustainable' spike in asylum
seekers at U.S. border ---
How union stakes in ailing papers like the
Chicago Sun-Times may keep them alive ---
The recent purchase of the Chicago Sun-Times for a nominal US$1 by a consortium of labor-affiliated organizations and individual investors highlights the troubled state of the newspaper industry.
It also raises the question of whether union ownership can bolster the odds that this Windy City daily whose founding dates back to 1929 can survive.
Research conducted by me and others suggests that, perhaps surprisingly, giving unions a financial stake in a company can offer advantages that would not only benefit Chicago Sun-Times employees but the newspaper and the wider community as well.
The state of the industry
Regardless of who owns it, the Chicago Sun-Times operates in an industry wrenched by a tsunami of economic, technological and social change that has rendered the traditional business model of newspapers obsolete.
Just 20 percent of the U.S. population got its news from a print newspaper last year, compared with 27 percent in 2013. Weekday circulation for print dailies dropped to 34.7 million in 2016 – the lowest in at least 77 years – down from 52.3 million a decade earlier. And advertising revenue from both print and digital dailies plunged to $18.3 billion last year from $49.4 billion in 2005.
The Chicago Sun-Times, which has won eight Pulitzer Prizes and was the home of legendary film critic Roger Ebert, itself offered vivid testimony of these hardships when it declared bankruptcy in 2009. This led to steep bargaining concessions by its employees after it was bought by STMG Holdings, the only bidder for the company.
For example, the paper negotiated a 15 percent cut in pay and benefits for newsroom employees who belonged to the NewsGuild union.These realities highlight the challenges confronting the new Chicago Sun-Times investors, which include the Chicago Federation of Labor (CFL) union, former Chicago Alderman Edwin Eisendrath and several local labor unions. The head of the CFL is expected to be named chairman, while Eisendrath will be the chief executive.
Continued in article
There are not a whole lot of examples where employee or union ownership fails to save companies. Exhibit A is Chrysler Corporation prior to bankruptcy in 2007 that was reorganized in 2009 by, among other things, leaving employee shares worthless.
The advantage of employee and union ownership arises when employees will make concessions in wages, plant closings, and robotics that that were not possible when outside investors owned the majority stake in the companies.
The disadvantage is cost of capital when outside investors cannot be attracted to invest in companies that employees and unions own. Employee owners may also be less inclined to take on risky mergers and acquisitions and otherwise fund ventures that keep other companies viable. Also at some point employees refuse to continue to make wage concessions even for their own companies.
Finding and Using Health Statistics --- http://www.nlm.nih.gov/nichsr/usestats/index.htm
Tapper: Democrats' Obamacare Pitch Was Dishonest ---
Jake Tapper, CNN
President Trump Is Still
Making Illegal Payments to Insurers Under Obamacare: The health
law's CSR subsidies aren't a matter of executive discretion
The Economist Magazine: The
$272 billion (Medicaid and Medicare) swindle Why thieves love America’s
health-care system ---
INVESTIGATORS in New York were looking for health-care fraud hot-spots. Agents suggested Oceana, a cluster of luxury condos in Brighton Beach. The 865-unit complex had a garage full of Porsches and Aston Martins—and 500 residents claiming Medicaid, which is meant for the poor and disabled. Though many claims had been filed legitimately, some looked iffy. Last August six residents were charged. Within weeks another 150 had stopped claiming assistance, says Robert Byrnes, one of the investigators.
Health care is a tempting target for thieves. Medicaid doles out $415 billion a year; Medicare (a federal scheme for the elderly), nearly $600 billion. Total health spending in America is a massive $2.7 trillion, or 17% of GDP. No one knows for sure how much of that is embezzled, but in 2012 Donald Berwick, a former head of the Centres for Medicare and Medicaid Services (CMS), and Andrew Hackbarth of the RAND Corporation, estimated that fraud (and the extra rules and inspections required to fight it) added as much as $98 billion, or roughly 10%, to annual Medicare and Medicaid spending—and up to $272 billion across the entire health system.
Continued in article
How Americans Get Health Insurance ---
Only 43.3 million are on Medicare (not free even in retirement) whereas 62.4 million have Medicaid (free for basics)
Historical NHE (National Health Expenditures), 2015:
· NHE grew 5.8% to $3.2 trillion in 2015, or $9,990 per person, and accounted for 17.8% of Gross Domestic Product (GDP).
· Medicare spending grew 4.5% to $646.2 billion in 2015, or 20 percent of total NHE.
· Medicaid spending grew 9.7% to $545.1 billion in 2015, or 17 percent of total NHE.
· Private health insurance spending grew 7.2% to $1,072.1 billion in 2015, or 33 percent of total NHE.
· Out of pocket spending grew 2.6% to $338.1 billion in 2015, or 11 percent of total NHE.
· Hospital expenditures grew 5.6% to $1,036.1 billion in 2015, faster than the 4.6% growth in 2014.
· Physician and clinical services expenditures grew 6.3% to $634.9 billion in 2015, a faster growth than the 4.8% in 2014.
· Prescription drug spending increased 9.0% to $324.6 billion in 2015, slower than the 12.4% growth in 2014.
· The largest shares of total health spending were sponsored by the federal government (28.7 percent) and the households (27.7 percent). The private business share of health spending accounted for 19.9 percent of total health care spending, state and local governments accounted for 17.1 percent, and other private revenues accounted for 6.7 percent.
· For further detail see NHE Tables in downloads below.
Projected NHE, 2016-2025:
· National health spending is projected to grow at an average rate of 5.6 percent per year for 2016-25, and 4.7 percent per year on a per capita basis.
o Health spending is projected to grow 1.2 percentage points faster than Gross Domestic Product (GDP) per year over the 2016-25 period; as a result, the health share of GDP is expected to rise from 17.8 percent in 2015 to 19.9 percent by 2025.
o Throughout the 2016-25 projection period, growth in national health expenditures is driven by projected faster growth in medical prices (from historically low growth in 2015 of 0.8 percent to nearly 3 percent by 2025). This faster expected growth in prices is partially offset by projected slowing growth in the use and intensity of medical goods and services.
· Although the largest health insurance coverage impacts from the Affordable Care Act’s expansions have already been observed in 2014-15, the insured share of the population is projected to increase from 90.9 percent in 2015 to 91.5 percent in 2025.
o This expectation is mainly a result of continued anticipated growth in private health insurance enrollment, in particular for employer-sponsored insurance, during the first half of the decade in response to faster projected economic growth.
· Health spending growth by federal and state & local governments is projected to outpace growth by private businesses, households, and other private payers over the projection period (5.9 percent compared to 5.4 percent, respectively) in part due to ongoing strong enrollment growth in Medicare by the baby boomer generation coupled with continued government funding dedicated to subsidizing premiums for lower income Marketplace enrollees.
· National health spending growth is projected to have decelerated from 5.8 percent in 2015 to 4.8 percent in 2016 as the initial impacts associated with the Affordable Care Act’s major coverage expansions fade. Medicaid spending growth is projected to have decelerated sharply from 9.7 percent in 2015 to 3.7 percent in 2016 as enrollment growth in the program slowed significantly. Similarly, private health insurance spending growth is projected to have slowed from 7.2 percent in 2015 to 5.9 percent in 2016 (also largely attributable to slowing expected growth in enrollment).
· Health spending is projected to grow 5.4 percent in 2017 related to faster growth in Medicare and private health insurance spending.
· Health expenditures are projected to grow at an average rate of 5.9 percent for 2018-19, the fastest of the sub-periods examined, as projected spending growth in Medicare and Medicaid accelerates.
· Through the second half of the projection (2020-25), increasing medical prices are offset by projected decelerations in growth in the use and intensity of medical goods and services, leading to average growth of 5.8 percent per year for national health expenditures.
For further detail see NHE projections 2016-2025 in downloads below.
NHE by Age Group and Gender, Selected Years 2002, 2004, 2006, 2008, 2010, and 2012:
· Per person personal health care spending for the 65 and older population was $18,988 in 2012, over 5 times higher than spending per child ($3,552) and approximately 3 times the spending per working-age person ($6,632).
· In 2012, children accounted for approximately 25 percent of the population and slightly less than 12 percent of all PHC spending.
· The working-age group comprised the majority of spending and population in 2012, almost 54 percent and over 61 percent respectively.
· The elderly were the smallest population group, nearly 14 percent of the population, and accounted for approximately 34 percent of all spending in 2012.
· Per person spending for females ($8,315) was 22 percent more than males ($6,788) in 2012.
· In 2012, per person spending for male children (0-18) was 9 percent more than females. However, for the working age and elderly groups, per person spending for females was 28 and 7 percent more than for males.
For further detail see health expenditures by age in downloads below.
NHE by State of Residence, 1991-2014:
· In 2014, per capita personal health care spending ranged from $5,982 in Utah to $11,064 in Alaska. Per capita spending in Alaska was 38 percent higher than the national average ($8,045) while spending in Utah was about 26 percent lower; they have been the lowest and highest, respectively, since 2012.
· Health care spending by region continued to exhibit considerable variation. In 2014, the New England and Mideast regions had the highest levels of total per capita personal health care spending ($10,119 and $9,370, respectively), or 26 and 16 percent higher than the national average. In contrast, the Rocky Mountain and Southwest regions had the lowest levels of total personal health care spending per capita ($6,814 and $6,978, respectively) with average spending roughly 15 percent lower than the national average.
· For 2010-14, average growth in per capita personal health care spending was highest in Alaska at 4.8 percent per year and lowest in Arizona at 1.9 percent per year (compared with average growth of 3.1 percent nationally).
· The spread between the highest and the lowest per capita personal health spending across the states has remained relatively stable over 2009-14. Accordingly, the highest per capita spending levels were 80 to 90 percent higher per year than the lowest per capita spending levels during the period.
· Medicare expenditures per beneficiary were highest in New Jersey ($12,614) and lowest in Montana ($8,238) in 2014.
· Medicaid expenditures per enrollee were highest in North Dakota ($12,413) and lowest in Illinois ($4,959) in 2014.
For further detail, see health expenditures by state of residence in downloads below.
NHE by State of Provider, 1980-2014:
· Between 2009 and 2014, U.S. personal health care spending grew, on average, 3.9 percent per year, with spending in North Dakota growing the fastest (6.7 percent) and spending in Rhode Island growing the slowest (2.5 percent).
· In 2014, California’s personal health care spending was highest in the nation ($295.0 billion), representing 11.5 percent of total U.S. personal health care spending. Comparing historical state rankings through 2014, California consistently had the highest level of total personal health care spending, together with the highest total population in the nation. Other large states, New York, Texas, Florida, and Pennsylvania, also were among the states with the highest total personal health care spending.
· Wyoming’s personal health care spending was lowest in the nation (as has been the case historically), representing just 0.2 percent of total U.S. personal health care spending in 2014. Vermont, Alaska, North Dakota, and South Dakota were also among the states with the lowest personal health care spending in both 2014 and historically. All these states have smaller populations.
· Gross Domestic Product (GDP) by state measures the value of goods and services produced in each state. Health spending as a share of a state’s GDP shows the importance of the health care sector in a state’s economy. As a share of GDP, Maine ranked the highest (22.3 percent) and Wyoming ranked the lowest (9.3 percent) in 2014.
For further detail, see health expenditures by state of provider in downloads below.
Bob Jensen's health care messaging --- http://faculty.trinity.edu/rjensen/Health.htm
Tidbits Archives ---
Jensen's Pictures and Stories
Summary of Major Accounting Scandals --- http://en.wikipedia.org/wiki/Accounting_scandals
Bob Jensen's threads on such scandals:
Bob Jensen's threads on audit firm litigation and negligence ---
Current and past editions of my
newsletter called Fraud Updates ---
Enron --- http://faculty.trinity.edu/rjensen/FraudEnron.htm
Rotten to the Core --- http://faculty.trinity.edu/rjensen/FraudRotten.htm
American History of Fraud --- http://faculty.trinity.edu/rjensen/FraudAmericanHistory.htm
Bob Jensen's fraud
Bob Jensen's threads on
auditor professionalism and independence are at
Bob Jensen's threads on
corporate governance are at
Against Validity Challenges in Plato's Cave ---
· With a Rejoinder from the 2010 Senior Editor of The Accounting Review (TAR), Steven J. Kachelmeier
· With Replies in Appendix 4 to Professor Kachemeier by Professors Jagdish Gangolly and Paul Williams
· With Added Conjectures in Appendix 1 as to Why the Profession of Accountancy Ignores TAR
· With Suggestions in Appendix 2 for Incorporating Accounting Research into Undergraduate Accounting Courses
Against Validity Challenges in Plato's Cave ---
By Bob Jensen
wrong in accounting/accountics research? ---
The Sad State of Accountancy Doctoral Programs That Do Not Appeal to Most
AN ANALYSIS OF THE EVOLUTION OF RESEARCH CONTRIBUTIONS BY THE ACCOUNTING REVIEW:
Bob Jensen's threads on accounting theory
Systemic problems of accountancy (especially the vegetable nutrition paradox)
that probably will never be solved
Bob Jensen's economic crisis messaging http://faculty.trinity.edu/rjensen/2008Bailout.htm
Bob Jensen's threads --- http://faculty.trinity.edu/rjensen/threads.htm
Bob Jensen's Home Page --- http://faculty.trinity.edu/rjensen/