Protecting the Middle Class News
From the Archives: The Medicare Bill of 1965
Posted by on July 30, 2012 at 12:28 PM EDTOn July 30, 1965, President Lyndon B. Johnson signed into law the Social Security Act Amendments, popularly known as the Medicare bill. It established Medicare, a health insurance program for the elderly, and Medicaid, a health insurance program for the poor.
Former President Truman participated in the signing ceremony with President Johnson. Harry S. Truman and Bess Truman received Medicare registration cards numbers one and two. At the time, Mr. Truman was 81 years old, and he described it as a “profound personal experience for me.”
The National Archives have put together a gallery featuring images and artifacts from the event in Independence, Missouri 47 years ago today. Check it out:
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This is the Medicare card believed to have been given to Bess Truman by President Lyndon Johnson.
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This is the Medicare card believed to have been given to Harry Truman by President Lyndon Johnson.
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President Lyndon Johnson hands President Harry S. Truman a pen as Lady Bird Johnson, Vice President Hubert Humphrey, and Bess Truman look on.
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President Lyndon Johnson signs the Medicare Bill. President Harry S. Truman is seated next to him.
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The first page of the press release issuing the remarks President Lyndon Johnson made upon signing the Social Security Amendments of 1965.
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The second page of the press release issuing the remarks President Lyndon Johnson made upon signing the Social Security Amendments of 1965.
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The third page of the press release issuing the remarks President Lyndon Johnson made upon signing the Social Security Amendment of 1965.
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The entry from President Lyndon B. Johnson’s Daily Diary from when he signed the Social Security Amendments of 1965.
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Page 1 of the Social Security Act.
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Page 2 of the Social Security Act.
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Learn more about the Medicare bill: http://www.ourdocuments.gov/doc.php?flash=true&doc=99
Learn more about Health Care, Additional Issues-
New “Shopping Sheet” Will Make It Easier for Students to “Know Before They Owe”
Posted by on July 24, 2012 at 1:55 PM EDTEditor’s Note: You can read more about the Shopping Sheet in a post on the official blog of U.S. Department of Education.
Almost every day, President Obama gets letters from students who are swimming in student loan debt, and every week it seems we see another newspaper article about how the cost of college is becoming prohibitively expensive for too many American families.
We know that college remains an excellent investment. Increasingly however, it is a financed investment, with the monthly loan payments to prove it. And, while we don’t want would-be students to be scared away from going to college because of the price, we aren’t doing students any favors by obscuring the reality of this commitment until after they’ve graduated.
While this Administration continues to do everything we can to make sure that college remains affordable and available to families in the middle class and those aspiring to the middle class, we also are focused on making it easier for families to understand the costs and benefits of higher education up-front, so that they can more easily choose a college that is both high-quality and affordable.
That’s why the Administration today released the final version of the Financial Aid Shopping Sheet—an individualized standard financial aid award letter that will help students and families understand the costs of college before making the final decision on where to enroll. The Shopping Sheet is the culmination of a joint effort between the Consumer Financial Protection Bureau and the Department of Education to provide individuals with critical information about their financial decision to attend college in a clear, concise, and standardized format that facilitates easy comparisons across institutions.
As President Obama has said, students must “know before they owe” and be empowered with the facts to accurately compare the true costs of college from one institution to another before making a decision. While every college is unique, there are a few key pieces of information that every college provides -- or should provide -- to its students. The goal of this Shopping Sheet is to make sure this information is available in a clear and consistent format to ensure that students understand their financial responsibilities in a layout that makes sense to them, and in a manner that allows for easy comparisons across schools.
Today’s announcement builds on the Obama Administration’s continued commitment to address the growing cost of college. Last year, the President convened leading college presidents from around the nation to discuss innovative solutions and proposals to keep costs down while maintaining quality in higher education. In January, President Obama emphasized the responsibility shared by the federal government, states, colleges, and universities to rein in college costs, and outlined a comprehensive proposal to ensure that we make progress. He also launched what was ultimately a successful effort to spur Congressional action in time to prevent the interest rates on federal student loans from doubling by July of this year. Just recently, in June, Vice President Biden and Education Secretary Arne Duncan called on all college presidents to provide greater transparency in college costs in financial aid information, and several key institutions, representing more than a million students across the country, committed to provide important financial information on cost, financial aid options, estimated monthly payments, and student outcomes to all of their incoming students. And today, Secretary Duncan sent an open letter to colleges across the country, encouraging them to follow this example and adopt the Shopping Sheet for next school year.
An American Renaissance in Manufacturing Happening In Kansas City and Columbia, Missouri
Posted by on July 23, 2012 at 6:53 PM EDTEd note: this post was originally published on The Commerce Blog, the official blog of the U.S. Department of Commerce
I am back in my home state of Missouri today, so it is even more of a treat to witness firsthand the resurgence in American manufacturing. I visited two manufacturers today – the A. ZAHNER Company, in Kansas City, and Environmental Dynamics International (EDI), in Columbia – and had the chance to talk to some remarkable local businesses leaders and entrepreneurs in both cities.
Under President Obama’s leadership, and with the hard work of businesses and workers like those here in Missouri, our private sector has now seen 28 straight months of job growth – 4.4 million jobs. Of course, there is more work to be done, but we are making progress in critical areas. Over the last two and a half years, we’ve seen the strongest growth in manufacturing jobs since the 1990s. Missouri alone has gained nearly 9,000 new manufacturing jobs since 2010.
On top of that, manufacturers in states like Missouri are realizing that investing here at home is both the right thing to do and the smart thing to do. Many businesses – both here and abroad – are deciding to keep jobs here, bring jobs back to the U.S., or to set up operations here for the first time—a trend called “insourcing.”
We need to do everything possible to support businesses in places like Missouri that are thinking about insourcing. The Obama Administration will continue to call on Congress to pass legislation to give our companies a tax break if they move operations and jobs back.
Learn more about Economy,So How Many Consumer Reporting Companies Are There?
Posted by on July 17, 2012 at 4:57 PM EDTEd note: The Consumer Financial Protection Bureau (CFPB) announced yesterday that they adopted a rule to begin supervising larger consumer reporting agencies, which include what are popularly called credit bureaus or credit reporting companies. This is the first time these companies will be supervised at the federal level. This blog post, originally published on the CFPB blog, explains what this will mean for consumers.
You may know about the three biggest nationwide credit reporting companies: Experian, Equifax, and TransUnion. But did you know that there are other companies out there that may be providing reports on you that could be used to decide if you’re eligible for consumer financial, insurance, medical and other products?
Today the CFPB is posting a list of consumer reporting companies – companies that collect information and write reports that could be used to decide if you will be able to get credit, insurance, or a job. This list doesn’t cover every company in the industry. It’s a list of companies that have identified themselves as consumer reporting companies or provide consumers access to their consumer reports. (1) The list includes both the biggest nationwide credit reporting companies and a longer list of “specialty reporting companies.”
Specialty reporting companies focus on certain industries. Just like the three biggest nationwide credit reporting companies, specialty reporting companies collect and share information with creditors and other businesses. There are a lot of these companies on the list, so we’re also trying to give tips on which of them may be important to you. The list also has information about how you can get copies of your reports (see below).
Learn more about , EconomyVice President Biden Speaks To Seniors About Retirement Security
Posted by on July 16, 2012 at 6:52 PM EDT
Vice President Joe Biden delivers remarks at a White House Community Leaders briefing on Seniors Issues, in the South Court Auditorium at the White House, July 16, 2012. (Official White House Photo by David Lienemann)
Today, the Vice President spoke to more than 100 community leaders from across the country representing over 60 seniors groups that are part of the Leadership Council of Aging Organizations. He told the audience that when it comes to Social Security and Medicare, “the question is what are we going to do to strengthen and sustain these programs now and for the future.” In contrast, Congressional Republicans are trying to weaken or dismantle these programs.
Last year, Congressman Paul Ryan proposed to end traditional Medicare. His plan, which was embraced by his Republican colleagues, would give seniors a voucher to buy private insurance and hold them responsible for any costs that exceed the value of the voucher. As a result, the typical 65-year-old’s out-of-pocket health care costs would double over time. While Congressman Ryan introduced a revised plan this year, it still relies on a voucher system that would increase the financial burden on seniors.
President Obama and Vice President Biden want to strengthen Medicare and secure the program for the future. Our health care law extends the life of Medicare by eight years by taking smart steps like cutting waste and fraud and creating incentives to cut down on hospital readmissions. These steps will save seniors in traditional Medicare an average of $160 on premiums and copays in 2012 alone. In addition, the law has already saved 5.3 million seniors an average of $600 on prescription drugs by closing the “donut hole,” and has ensured that over 30 million have access to free preventive services like cancer screenings and annual wellness visits.
Ask an Expert: How Are We Helping Underwater Borrowers?
Posted by on July 10, 2012 at 3:32 PM EDTOn Thursday, Secretary of Housing and Urban Development Shaun Donovan will sit down for a discussion with homeowners from across the country about President Obama's refinancing plan.
We're helping to kick off the conversation with a series of videos in which the Housing Secretary answers some of the most popular questions we've received about the plan.
Today, he tells us how the government is helping homeowners who owe more than the value of their mortgages.
Check it out and be sure to tune in Thursday at 3:15 PM ET.
Learn more about , EconomyPresident Obama Signs Bill to Create Jobs, Restore America's Transportation System
Posted by on July 9, 2012 at 2:29 PM EDTEd. Note: This is a cross-post from Fast Lane, Secretary of Transportation Ray LaHood's official blog
Last Friday afternoon, President Obama signed legislation that will put thousands of construction workers on job sites across the country and supports our commitment to restoring America's infrastructure.
This transportation bill, Moving Ahead for Progress in the 21st Century (MAP-21), will sustain our Highway Trust Fund and provide states and communities with two years of steady funding to build needed roads, bridges, and transit systems. It also builds on DOT's efforts to improve safety across all forms of transportation and to make progress on transportation alternatives as we have done during the last three years.
President Barack Obama signs HR 4348, the Transportation and Student Loan Interest Rate bill during a ceremony in the East Room of the White House. June 7, 2012. (Official White House Photo by Lawrence Jackson)
Learn more about EconomyLandmark Court Decision Upholds EPA's Actions to Protect Families
Posted by on June 29, 2012 at 3:48 PM EDTEarlier this week, the United States Court of Appeals for the D.C. Circuit affirmed – via a unanimous ruling – several important steps taken by the Environmental Protection Agency (EPA) to protect the health of American families, save consumers money at the pump, and reduce our dependence on foreign oil.
This was a landmark decision with several key components:
- The Court upheld EPA’s science-based finding that carbon pollution endangers the public’s health and welfare, noting the “substantial record evidence.”
- The Court protected the Administration’s historic fuel economy standards for cars and trucks, adding that EPA’s implementation of the Clean Air Act was “unambiguously correct.”
- Finally, the Court dismissed several petitions challenging a requirement for some of the nation’s largest polluters – starting with new power plants – to install widely-available and cost-effective pollution control technology, while shielding smaller emitters, arguing that “no petitioner had standing.”
Learn more about Economy, Energy and EnvironmentPeace of Mind in Knowing Sick Child Won’t be Denied Health Coverage
Posted by on June 20, 2012 at 2:26 PM EDTEd. Note: This was originally published on Healthcare.gov
As Alycia Steinberg of Towson, MD, tells us, when a child is seriously ill, a parent shouldn’t have to worry that an insurer would deny coverage due to the child’s pre-existing condition.
That is why she’s grateful that the Affordable Care Act protects her daughter Avey’s health insurance coverage because it bars insurance companies from denying coverage to children based on pre-existing conditions. “To have a child with cancer, there is so much to worry about, but the Affordable Care Act means that I don’t have to worry that Avey will be denied treatment because of her pre-existing condition,” Alycia says.
Learn more about , Economy, Health CareAffordable Care Act Helps Improve Access to High Quality, Coordinated Care
Posted by on June 20, 2012 at 10:33 AM EDTToday, HHS announced that 219 community health centers received another $128.6 million to help them expand their reach, supporting approximately 5,460 jobs and serve 1.25 million additional patients.
Today’s announcement is one in a series of efforts to make our community health centers stronger. Since the passage of the Affordable Care Act, community health centers around the country have received new resources to expand capacity and improve care for their patients.
At the Erie Family Health Center in Chicago, these new resources are helping staff better monitor patients’ care, follow up with patients and ensure they get the care they need that can stop health problems before they start. For example:
One of the health center’s patients is a 52 year old man with diabetes. At his last appointment, his diabetes numbers were clearly trending in the wrong direction. When he missed his follow-up appointment, the health center knew and was able to reach out to him because of its computer systems reminds the staff to contact patients who have missed appointments or who have lab results showing poorly controlled diabetes.
Learn more about Economy, Health CareKiersten-Care: Using the Health Care Tax Credit to Take Care of Employees
Posted by on June 19, 2012 at 4:25 PM EDTEd. Note: This was originally published on Healthcare.gov
Kiersten Firquain founded Bistro Kids in Kansas City, KS, seven years ago to provide locally sourced organic “kid-friendly” food to as many students as possible. While her chefs were cooking up healthy food for youngsters, she wanted to do something for her employees’ health. The health care law tax credit for small businesses, she says, made it possible to offer them health insurance.
“We talked to our chefs and employees and asked, ‘What’s something you would like from Bistro Kids?’ And one of the things that kept coming up was insurance,” Kiersten says.
Bistro Kids qualified for about $1,500 per year in tax credits under the health care law, the Affordable Care Act, which made a huge difference to a small business like hers. For one of her chefs, Kiersten says, health insurance means a $5 co-pay for a prescription instead of a $250 cost, which her chef would not have been able to afford.
Learn more about Economy, Health CareWhy Refi? Your Questions Answered.
Posted by on June 19, 2012 at 11:27 AM EDTOver the past few weeks we’ve been telling you about President Obama’s plan to cut through the red tape that’s been preventing many homeowners from refinancing their mortgages and saving hundreds of dollars each month. We’ve been soliciting your feedback and asking you to raise your voice in support, and so far your response has been overwhelming. Since then more than 50,000 Americans have joined the conversation about this important issue.
Many of you had questions about the plan and how it would impact you and your community, so we asked Jim Parrott, Senior Advisor for Housing at the National Economic Council to record a few video responses below.
Still have questions? Later this week, U.S. Department of Housing and Urban Development Secretary Donovan will be answering via video response. You can ask us @WhiteHouse using the hashtag #WhyRefi, on our Facebook wall, on our Google+ page or on this webform on Whitehouse.gov.
Have all the information you need? Visit Whitehouse.gov/why-refi to tell President Obama you support his plan.
Learn more about , Economy,Reforming Unemployment Insurance to Protect Jobs and Incomes for American Workers
Posted by on June 18, 2012 at 1:45 PM EDTIn his inaugural address, President Obama praised workers who “would rather cut their hours than see a friend lose their job.” But in most states, our unemployment insurance (UI) system discourages reducing hours in this way. A worker who is laid off has access to UI benefits that temporarily cover part of lost wages, but a worker whose hours are reduced has no such access, creating an incentive for layoffs while leaving workers who face an involuntary reduction in their hours with no protection or support. Today the Department of Labor is issuing guidance on new legislation that will help to address these problems. This guidance is part of a series of important UI reforms designed to contribute to job creation and job placement that the President proposed in the American Jobs Act, were signed into law in February and are now being implemented.
Programs in some states that allow workers whose hours have been cut to claim pro-rated UI benefits—so-called short-time compensation or work sharing programs—help to keep workers on the job. President Obama has long advocated the expansion of work sharing to help employers and their workers. It’s an idea that has been supported by economists across the political spectrum. The President’s proposal to expand the number of states with work-sharing programs, and increase employer awareness of the benefits of work sharing, was included in both his FY 2012 and 2013 Budgets, and in last September’s American Jobs Act. That proposal was signed into law on a bipartisan basis as part of the February extension of the payroll tax cut, and is being implemented today through guidance released by the Labor Department.
Learn more about EconomyVice President Discusses College Affordability with College and University Officials
Posted by on June 5, 2012 at 6:55 PM EDT
Vice President Joe Biden holds a meeting on transparency in college costs with Secretary of Education Arne Duncan and college presidents, in the Roosevelt Room of the White House, June 5, 2012. (Official White House Photo by David Lienemann)
Today, Vice President Biden met with the presidents and senior officials of ten colleges, universities, and state systems of higher education from across the country to discuss the importance of providing students and families with transparent information about the cost of attendance and financial aid. Secretary Duncan, Director of the Consumer Financial Protection Bureau Richard Cordray, and Director of the White House Domestic Policy Council Cecilia Muñoz also participated in the discussion.
Post-secondary education is a valuable investment – more than 60 percent of new jobs in the next decade will require a credential beyond a high school diploma. But before settling on a school and signing any loan agreements, students and their families need easy-to-understand information regarding how they will finance their education. Colleges and universities already provide some statistics about the cost of attendance and available financial aid, but that information is often not clearly presented to students and their families in a way that facilitates easy comparison among schools. Further, schools usually do not provide important information including an estimate of students’ future loan payments, or data about the likelihood of graduation or loan default.
Congress Says No to Equal Pay
Posted by on June 5, 2012 at 4:24 PM EDTEqual pay for women is about more than just fairness. Women are breadwinners in more than 50 percent of American households, and if they're making less than men do for the same work, families have to get with less money for childcare and tuition and rent, and small businesses have fewer customers. Everybody suffers.
President Obama supports passage of the Paycheck Fairness Act, a comprehensive and commonsense bill that updates and strengthens the Equal Pay Act of 1963, which made it illegal for employers to pay unequal wages to men and women who perform substantially equal work. Following Congress's failure to act on this bill today, the President released the following statement:
This afternoon, Senate Republicans refused to allow an up-or-down vote on the Paycheck Fairness Act, a commonsense piece of legislation that would strengthen the Equal Pay Act and give women more tools to fight pay discrimination. It is incredibly disappointing that in this make-or-break moment for the middle class, Senate Republicans put partisan politics ahead of American women and their families. Despite the progress that has been made over the years, women continue to earn substantially less than men for performing the same work. My Administration will continue to fight for a woman’s right for equal pay for equal work, as we rebuild our economy so that hard work pays off, responsibility is rewarded, and every American gets a fair shot to succeed.
Learn more about wage inequality and its effects on American families here
Join Us for an Online Women’s Health Town Hall
Posted by on June 5, 2012 at 11:28 AM EDTAs part of our focus on women’s health, the White House and the U.S. Department of Health and Human Services (HHS) would like to invite you to participate online in a Women’s Health Town Hall on Thursday, June 7, 2012. The event will be streamed live from the White House and the HHS websites from 10 am to 11:30 am ET.
The event will be an interactive, open dialogue about how the health care law, the Affordable Care Act, is improving the health of women and their families.
Do you know how the law affects you, your mother, and your daughter? Here are some highlights:
- The law requires insurance companies to cover people with pre-existing conditions, and means the end of women being denied or charged more for coverage just because they’re women.
- It also zeroes in on ensuring access to preventive services like mammograms and blood pressure screenings by making them available without a co-pay.
- It strengthens the Medicare program by cracking down on fraud, waste and abuse and closing the prescription drug gap known as the “donut hole,” which means lower prescription drug costs for all seniors.
Learn more about Family, Health CareInsurance Rebates on the Way
Posted by on June 5, 2012 at 10:13 AM EDTConsumers across the country are starting to hear the good news about their health insurance costs.
Thanks to the Affordable Care Act, the new health care law, health insurers generally have to spend at least 80 percent of your premium dollars on health care and quality, not administrative overhead. This minimum percentage is called a medical loss ratio. If your insurer doesn’t meet or exceed this standard, they must rebate you the difference.
The rule encourages insurers to give you better value for your premium dollar and holds them accountable if they don’t. Last week, insurers were required to report the refunds that will go to consumers and small businesses later this summer and we have already started to see the effects:
- BlueCross BlueShield of Tennessee has announced that it will pay $8.6 million to about 73,000 individual policyholders in August because they spent less than 80 percent of premiums on health care.
- In Arizona, more than $36 million in refunds will go to both consumers and small businesses. One insurer in the state, Blue Cross Blue Shield of Arizona, alone will pay out an estimated $8.7 million to more than 77,000 individual policyholders, and another $3.2 million to more than 3,700 small businesses. United Healthcare's Golden Rule Insurance will refund nearly $8.7 million to more than 30,000 additional Arizona policyholders.
- Two insurers in California will pay out more than $50 million in rebates to nearly 1 million customers statewide.
This is just one way the new health care law is helping American families and businesses get a fair deal when it comes to their health care. Learn more at www.WhiteHouse.gov/healthreform.
Learn more about Economy, Health CareBy the Numbers: $431,000
Posted by on June 4, 2012 at 1:16 PM EDT
The gender wage gap puts women at a career-long disadvantage. In 2011, a typical 25-year-old woman working full-time all year earned $5,000 less than a typical 25-year-old man. In just 10 years, her cumulative lost wages will reach $34,000. If that earnings gap is not corrected, by the age of 65 years, she will have lost $431,000 over her working lifetime.
This substantial gap is more than a statistic -- it has real life consequences. When women, who make up nearly half the workforce, bring home less money each day, it means they have less for the everyday needs of their families, and over a lifetime of work, far less savings for retirement.
President Obama supports passage of the Paycheck Fairness Act, which Congress puts to a vote on June 5. This comprehensive and common sense bill updates and strengthens the Equal Pay Act of 1963, which made it illegal for employers to pay unequal wages to men and women who perform substantially equal work.
On a call today, the President talked about the impact of paycheck inequality on American families: “We've got to understand this is more than just about fairness. Women are the breadwinners for a lot of families, and if they're making less than men do for the same work, families are going to have to get by for less money for childcare and tuition and rent, small businesses have fewer customers. Everybody suffers. .”
You can learn more about the Paycheck Fairness Act, and check out some e-cards that explain how income inequality affects American families here.
Equal Pay for Equal Work?
Posted by on June 1, 2012 at 12:53 PM EDTIt's 2012, but did you know that women are still paid less than men?
On average, full-time working women earn just 77 cents for every dollar a man earns, a wage gap that exists regardless of personal choices like education or occupation. Over the course of her career, a woman with a college degree will earn hundreds of thousands of dollars less than a man who does the same work.
This substantial gap is more than a statistic -- it has real life consequences. When women, who make up nearly half the workforce, bring home less money each day, it means they have less for the everyday needs of their families, and over a lifetime of work, far less savings for retirement.
President Obama supports passage of the Paycheck Fairness Act, which Congress puts to a vote on June 5. This comprehensive and commonsense bill updates and strengthens the Equal Pay Act of 1963, which made it illegal for employers to pay unequal wages to men and women who perform substantially equal work.
We’ve created some ecards that you can send via email or share on social media with reasons equal pay for equal work is essential. Pick your favorite, or send them all!
My First Job: Gene Sperling
Posted by on May 15, 2012 at 6:58 PM EDTSummer Jobs+ is a call to action for businesses, non-profits, and government to work together to provide pathways to employment for young people in the summer of 2012. It's about helping people find their first jobs.
Today Gene Sperling is the Director of the National Economic Council. In the video below, he talks about his first job as a ball boy. He swept the court and cleaned up after the players, which he thought was "way cool." More importantly, he learned what makes you stand out as a great employee.
