Child Poverty Data, Alleged Obamacare Fraud and More of Today’s Top Money News
Written by
Gary Dudak
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Hello, everyone! We’re back again with our daily rundown of some of the top financial stories out there. Later this evening, I’m playing in a Euchre tournament for charity. If you are from the Midwest you likely know of this card game. If you’re not, well, your loss! Here’s the news.
The Big Lead: Trump Says Child Poverty Is Down, but It May Not Feel Like Good News to Many Families
President Trump recently highlighted new census data showing the official child poverty rate fell to 13.4%. He called it “the lowest rate ever recorded.” While the data gives the president a strong talking point heading into the midterms, economists and child poverty experts say that number doesn’t fully capture the financial pressures families face. Here’s what the latest poverty numbers really reveal.
Government Spotlight: Obamacare
Vice President JD Vance’s White House task force recently canceled 760,000 Obamacare enrollments over what he called “rampant, rampant fraud” in the marketplace. The Centers for Medicare and Medicaid Services said it expects to recoup roughly $2.2 billion in advance premium tax credit payments tied to the canceled plans. Read the full story here.
Be Aware: 3 Costly First-Year Retirement Mistakes
Retiring is a major accomplishment, but the freedom that comes with leaving the workforce can also lead to costly spending decisions. Financial advisors say many retirees spend more than expected during their first year, which can put added pressure on savings meant to last decades. Here’s how many retirees overspend during their first year out of the workforce.
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