How much has Obama taken from Medicare to fund Obamacare?
A report issued by the Congressional Budget Office (CBO) finds that the amount of money President Obama has taken from Medicare to fund Obamacare totals $716 Billion: Senger, Alyene, Heritage.org, "Obamacare Robs Medicare of $716 Billion to Fund Itself".
How did AMC Theatres lose $561 million in the quarter?
AMC Theatres, the world’s largest cinema operator, lost $561 million in its most recent quarter as revenue collapsed because of the COVID-19 pandemic. The Leawood, Kan.-based exhibitor, owned by China’s Dalian Wanda Group, has been hammered by the coronavirus crisis, which has kept its 630 U.S. theaters closed since mid-March.
How much of the federal budget is spent on Medicare?
In 2018, Medicare spending (net of income from premiums and other offsetting receipts) totaled $605 billion, accounting for 15 percent of the federal budget (Figure 1). In 2018, Medicare benefit payments totaled $731 billion, up from $462 billion in 2008 (Figure 2) (these amounts do not net out premiums and other offsetting receipts).
How much did AMC Entertainment raise from its new stock offering?
AMC Entertainment said it has completed its new stock offering announced just Thursday morning, raising $587.4 million in additional capital. The company said it sold 11.55 million shares at an average price of approximately $50.85 per share in an at-the-market equity program launched earlier Thursday.
How much debt did AMC take on?
AMC's total debt is north of $5 billion, but CEO Adam Aron has repeatedly advised investors that it does not have any maturities coming due until 2023.
How much in debt was AMC in 2020?
The company's debt load stands at roughly $5.5 billion, and includes a number of other expensive loans and bonds taken on during the pandemic.
How much did AMC lose this year?
AMC Theatres' Quarterly Loss Shrinks, But Still Totals $134M. The cinema giant posted a loss of $134.4 million for the three months to Dec. 31, 2021, compared to a year-earlier $946.1 million during the height of the pandemic.
Is AMC paying down debt?
AMC received investor commitments for a new $950 million bond deal that it will use to pay down maturing debt and related fees. The movie theater chain initially planned to sell $500 million in bonds.
What was AMC worth before Covid?
$1 billionPut another way, AMC's stock was worth less than $1 billion before COVID-19 and is now trading at 20 times that despite there being less revenue and more shares issued. Investors could see a huge letdown eventually if the meme frenzy slows.
How much cash does AMC have?
AMC Entertainment Holdings cash on hand for 2020 was $0.321B, a 16.66% increase from 2019. AMC Entertainment Holdings cash on hand for 2019 was $0.276B, a 14.97% decline from 2018....Compare AMC With Other Stocks.AMC Entertainment Holdings Annual Cash on Hand (Millions of US $)2020$3212019$2762018$3242017$3188 more rows
Is AMC making a profit?
The Movie Theater Chain Saw Profits at Pre-Covid Levels. AMC stock was soaring Tuesday after the movie theater chain said it saw the most profitable quarter by some measures since before the onset of the Covid-19 pandemic.
Where does AMC make most of its money?
Most of the company's revenue is generated by the cost of theatre admission, but food and beverage sales have also remained a healthy revenue stream over the years.
How much did AMC profit in 2019?
AMC Entertainment's total revenue was $1216.40 million in 2020. This was a 77.77 % decline from the $5471 million generated in 2019 and an 81% decrease from $6454 million during the subsequent year.
How much loan does AMC have?
Last week, AMC announced it is looking to borrow $950 million in debt financing. The company will pay interest of 7.5% on these funds, with the principal due in 2029.
How Far Will AMC drop?
Such results would normally devastate most companies. But AMC trimmed that net loss sharply in 2021, down to $2.50 a share. Wall Street now expects a net loss of $1.05 a share for 2022 and a net loss of 45 cents in 2023. With big sales expected to continue, expect operating cash flows to improve.
What is AMC revenue?
2.53 billion USD (2021)AMC Theatres / Revenue
How much was Medicare robbed to pay for Obamacare?
Was Medicare Robbed $700 Billion to Pay for Obamacare? When talking about his plans for Social Security and Medicare, Gov. Mike Huckabee (R-AR) stated that Congress should not be “talking about getting rid of Social Security and Medicare that was robbed $700 billion dollars to pay for Obamacare.”.
How much did the Affordable Care Act save?
The Affordable Care Act (ACA) enacted savings estimated at that time of $716 billion to the Medicare program over ten years ( now estimated at $800 billion), which was used to pay for some of the cost of the new law under pay-as-you-go budget scoring conventions.
How long will Medicare be solvent?
Partially as a result these changes, the Medicare Trust Fund is expected to be solvent through 2030, 13 years longer than projected before the 2010 law was passed.
Did Medicare reduce payroll taxes?
However, there was no reduction in the amount of money going towards paying for Medicare; rather, the law reduced the amount that Medicare spends. In fact, Medicare payroll tax revenues increased, increasing the amount that could be spent.
How much money was robbed from Medicare to fund Obamacare?
Huckabee said, "$700 billion was robbed (from Medicare) to fund Obamacare.". It’s an old claim and an old figure. The law does reduce Medicare spending, but not in the way Huckabee suggests.
Why did private insurers run Medicare?
Under President George W. Bush, private insurers began to run a subset of Medicare plans with the idea that more competition produced lower costs. However, those plans grew to cost more than traditional Medicare, so the Affordable Care Act pared down the payments to private insurers.
Does Obamacare rob Medicare?
Obamacare doesn’t literally "rob" Medicare. But the Affordable Care Act does include provisions that reduce future increases in Medicare spending. In other words, the law slows down the rising costs of Medicare. It’s also important to note that the savings come at the expense of insurers and hospitals, not beneficiaries.
How much money has AMC raised?
The world’s largest movie theater company has raised around $2 billion in cash over the last six months, predominantly from stock sales. With fresh funds, AMC’s CEO Adam Aron said, the company plans on looking at several acquisitions, including buying ArcLight and Pacific theaters that will not reopen after the pandemic.
Why did Aron raise its cash?
Aron has been able to raise the cash because of continued volatility in its stock, which has become a favorite among retail investors trading so-called meme stocks. Shares of AMC were up more than 18% on Monday, adding to last week’s rally.
Is Aron going back to M&A?
While other companies in AMC’s situation might make debt repayment their top priority for the next year, Aron is turning back to M&A, which is how the company became the nation’s largest theater chain. Aron added Carmike, Odeon and Nordic shortly after taking the role of CEO in 2015.
How much does Medicare cost?
In 2018, Medicare spending (net of income from premiums and other offsetting receipts) totaled $605 billion, accounting for 15 percent of the federal budget (Figure 1).
What has changed in Medicare spending in the past 10 years?
Another notable change in Medicare spending in the past 10 years is the increase in payments to Medicare Advantage plans , which are private health plans that cover all Part A and Part B benefits, and typically also Part D benefits.
How is Medicare Part D funded?
Part D is financed by general revenues (71 percent), beneficiary premiums (17 percent), and state payments for beneficiaries dually eligible for Medicare and Medicaid (12 percent). Higher-income enrollees pay a larger share of the cost of Part D coverage, as they do for Part B.
How fast will Medicare spending grow?
On a per capita basis, Medicare spending is also projected to grow at a faster rate between 2018 and 2028 (5.1 percent) than between 2010 and 2018 (1.7 percent), and slightly faster than the average annual growth in per capita private health insurance spending over the next 10 years (4.6 percent).
Why is Medicare spending so high?
Over the longer term (that is, beyond the next 10 years), both CBO and OACT expect Medicare spending to rise more rapidly than GDP due to a number of factors, including the aging of the population and faster growth in health care costs than growth in the economy on a per capita basis.
How is Medicare's solvency measured?
The solvency of Medicare in this context is measured by the level of assets in the Part A trust fund. In years when annual income to the trust fund exceeds benefits spending, the asset level increases, and when annual spending exceeds income, the asset level decreases.
How much will Medicare per capita increase in 2028?
Medicare per capita spending is projected to grow at an average annual rate of 5.1 percent over the next 10 years (2018 to 2028), due to growing Medicare enrollment, increased use of services and intensity of care, and rising health care prices.
How much cash did AMC burn in the first quarter?
For the first-quarter, AMC reported $312.9 million in cash outflow for operating activities. That comes to roughly $104 million burned per month. However, that is an improvement from the Sep. 30 figure, when the company was burning through an estimated $140 million per month.
How much cash did AMC burn through in 2021?
That's why the one thing you must know from AMC's earnings report is how much cash it burned through in the first quarter of 2021. AMC reports a $312.9 million cash outflow from operations. Image source: Getty Images.
When did the movie theater chain report its first quarter results?
The international movie theater chain reported first-quarter results on Thursday, May 6. A Fool since 2019, and a graduate of Cal State LA with a B.S. in Finance and M.A. in Economics. Parkev is an adjunct professor of Finance and enjoys reading about financial and economic history.
Who was the secretary of health and human services who testified before Congress that $716 billion could “both” save Medicare
Kathleen Sebelius, then the Secretary of Health and Human Services, infamously testified before Congress that this $716 billion could “both” save Medicare while funding Obamacare. Only Washington politicians could claim with a straight face to spend the same money twice. President Biden, who has spent the last half-century in Washington, ...
How much did Biden's family plan cost?
But Biden’s “families” plan proposed using some of that same money to pay for his new entitlement expansions, including an expansion of Obamacare subsidies estimated to cost $163 billion over ten years. That would siphon more than two-thirds of the revenue that’s supposed to be going toward Medicare.
Does Joe Biden value Medicare?
In both his family’s budget and his administration’s fiscal policies, Joe Biden shows he neither value Medicare nor the seniors who rely on it. Chris Jacobs is founder and CEO of Juniper Research Group, and author of the book, " The Case Against Single Payer .". He is on Twitter: @chrisjacobsHC. Photo Global News / YouTube.
Does Biden want to raise Medicare taxes?
President Biden, who has spent the last half-century in Washington, wants to do just that. His budget takes a page out of the Obama playbook, raising Medicare taxes while raiding those additional funds from Medicare to pay for his Obamacare expansion.
Did Biden pay Medicare taxes?
Well, he and his wife dodged hundreds of thousands of dollars in Medicare taxes, the better to fund their luxury lifestyle. Now, as president, Biden wants others to pay the Medicare taxes he avoided — not because he views Medicare as a sacred promise to seniors, but to create a slush fund he can raid to pay for other programs.
How much money will AMC make in 2021?
AMC expects the $917 million to keep its operations afloat well into 2021. The company will make it through all of 2021, if moviegoers return to theaters, and if landlords are willing to lower rent payments, AMC officials said in a regulatory filing .
When will AMC run out of cash?
reached 92% by the end of the third quarter of last year, leading the company to predict it would run out of cash by the end of 2020.
When will AMC theaters reopen?
Movie theater chain AMC Entertainment, which was pushed to the brink of bankruptcy last year by the coronavirus pandemic, said Monday its doors will remain open in 2021 — thanks to a $917 million infusion of cash.
Is AMC still open?
Movie theater chain AMC Entertainment, which was pushed to the brink of bankruptcy last year by the coronavirus pandemic, said Monday its doors will remain open in 2021 — thanks to a $917 million infusion of cash.
Why did AMC lose $561 million?
Print. AMC Theatres, the world’s largest cinema operator, lost $561 million in its most recent quarter as revenue collapsed because of the COVID-19 pandemic. The Leawood, Kan.-based exhibitor, owned by China’s Dalian Wanda Group, has been hammered by the coronavirus crisis, which has kept its 630 U.S. theaters closed since mid-March.
How much did AMC lose in one quarter?
AMC Theatres lost $561 million in one quarter, with revenue down nearly 100%, because of COVID-19. AMC Theatres posted a massive loss for its most recent fiscal quarter. (Jonathan Weiss/Dreamstime )
Is Disney a part of AMC?
Disney is an indispensable supplier of movies for AMC, with franchises such as Marvel, Pixar and “Star Wars.”. “You might think I’m disappointed that ‘Mulan’ is moving, but AMC has no bigger friend on the planet than Disney,” Aron said.
Does AMC play Universal movies?
In April, he said AMC would refuse to play Universal movies in its theaters after NBCUniversal Chief Executive Jeff Shell declared that the company would pursue premium video on demand releases for films even after the pandemic.
Summary
- Medicare, the federal health insurance program for nearly 60 million people ages 65 and over and younger people with permanent disabilities, helps to pay for hospital and physician visits, prescription drugs, and other acute and post-acute care services. This issue brief includes the most recent historical and projected Medicare spending data published in the 2018 annual repor…
Health
- In 2017, Medicare spending accounted for 15 percent of the federal budget (Figure 1). Medicare plays a major role in the health care system, accounting for 20 percent of total national health spending in 2016, 29 percent of spending on retail sales of prescription drugs, 25 percent of spending on hospital care, and 23 percent of spending on physician services.
Cost
- In 2017, Medicare benefit payments totaled $702 billion, up from $425 billion in 2007 (Figure 2). While benefit payments for each part of Medicare (A, B, and D) increased in dollar terms over these years, the share of total benefit payments represented by each part changed. Spending on Part A benefits (mainly hospital inpatient services) decreased ...
Causes
- Slower growth in Medicare spending in recent years can be attributed in part to policy changes adopted as part of the Affordable Care Act (ACA) and the Budget Control Act of 2011 (BCA). The ACA included reductions in Medicare payments to plans and providers, increased revenues, and introduced delivery system reforms that aimed to improve efficiency and quality of patient care …
Effects
- In addition, although Medicare enrollment has been growing around 3 percent annually with the aging of the baby boom generation, the influx of younger, healthier beneficiaries has contributed to lower per capita spending and a slower rate of growth in overall program spending. In general, Part A trust fund solvency is also affected by the level of growth in the economy, which affects …
Impact
- Prior to 2010, per enrollee spending growth rates were comparable for Medicare and private health insurance. With the recent slowdown in the growth of Medicare spending and the recent expansion of private health insurance through the ACA, however, the difference in growth rates between Medicare and private health insurance spending per enrollee has widened.
Future
- While Medicare spending is expected to continue to grow more slowly in the future compared to long-term historical trends, Medicares actuaries project that future spending growth will increase at a faster rate than in recent years, in part due to growing enrollment in Medicare related to the aging of the population, increased use of services and intensity of care, and rising health care pri…
Funding
- Medicare is funded primarily from general revenues (41 percent), payroll taxes (37 percent), and beneficiary premiums (14 percent) (Figure 7). Part B and Part D do not have financing challenges similar to Part A, because both are funded by beneficiary premiums and general revenues that are set annually to match expected outlays. Expected future increases in spending under Part B and …
Assessment
- Medicares financial condition can be assessed in different ways, including comparing various measures of Medicare spendingoverall or per capitato other spending measures, such as Medicare spending as a share of the federal budget or as a share of GDP, as discussed above, and estimating the solvency of the Medicare Hospital Insurance (Part A) trust fund.
Purpose
- The solvency of the Medicare Hospital Insurance trust fund, out of which Part A benefits are paid, is one way of measuring Medicares financial status, though because it only focuses on the status of Part A, it does not present a complete picture of total program spending. The solvency of Medicare in this context is measured by the level of assets in the Part A trust fund. In years whe…
Benefits
- A number of changes to Medicare have been proposed that could help to address the health care spending challenges posed by the aging of the population, including: restructuring Medicare benefits and cost sharing; further increasing Medicare premiums for beneficiaries with relatively high incomes; raising the Medicare eligibility age; and shifting Medicare from a defined benefit s…