Word: defaulting
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...elderly are quick -- and correct -- to denounce the low savings rate among the young. But the growing reliance on subsidies from older generations is more a function of despair than greed, reflecting the downward mobility of millions of young families. "Inheritance looms larger by default," says Phillip Longman, author of Born to Pay: The New Politics of Aging in America. "Increasingly, the only way for the young middle class to stay in the middle class is to inherit the trappings...
...government interference doesn't necessarily favor managed competition, either. The administrative cost issue, after all, shores up the argument for the Canadianstyle system. A second point is more complicated: if you simultaneously support universal health care and employer-based funding, you have to favor a government-run, tax-supported default fund--a large-scale Medicare--for the unemployed and those whose bosses choose to pay rather than to play. One proposal even suggests taxes upon private health benefits to provide partial funding for the creation of this Medicare-plus...
...insurer. Given the chance to pay a quick and easy play-or-pay tax, some employers might funnel their workers into the public system. While it's impossible to know how many employers will opt out--since there are no precedents for managed competition--it's conceivable that the default insurance will cover far more than 33 million Americans. And despite the best efforts of Clinton, insurers and health providers, government may find itself paying for an ever-growing throng of patients...
...instance, said Lusztig, 12 students must fit into two six-person suites. When six students decide to live together, the remaining six must by default live together, according to Lusztig...
...unintended consequences; if it is easier to get a loan, colleges may feel free to raise their tuitions even higher. Wealthy parents will be able to borrow at bargain rates. Poorer parents, meanwhile, may be tempted to borrow more than they ever expect to repay; the default rate on government-backed loans is roughly 22% and bound to rise. As for outright federal grants, many more families will be eligible. But Congress has not set aside enough money to cover everyone and so is cutting the maximum grant amount. Neither the states nor the colleges themselves have enough money...