American Kids Aren’t Such Stoners After All
Turns out the young people of America are not as high as you thought they were. The use of illicit drugs, alcohol and tobacco among young people has been falling, according to new data.
While the nationwide rate of illicit drug use has gone up, the percentage of youths using illicit drugs has declined, according to a report from the Substance Abuse and Mental Health Service Administration (SAMSHA), part of the Department of Health and Human Services. The illicit drugs include marijuana/hashish, cocaine (including crack), hallucinogens, heroin, inhalants or prescription-type psychotherapeutics.
Among youths aged 12 to 17, the rate of illicit drug use was down to 8.8 percent in 2013 from 9.5 to 11.6 percent in the years 2002 to 2007, the SAMSHA study said.
Related: New Lifetime Estimate of Obesity Costs: $92,235 Per Person
But in 2013, drug use among those 12 or older was up to 9.4 percent from the 7.9 to 8.7 percent found between 2002 and 2009. The rise was attributed to increased rates of marijuana use, both medical and nonmedical, among adults aged 26 and older — and that rise probably doesn't fully reflect the recent legalization of recreational marijuana in Colorado, Washington, Oregon and Alaska.
The report also suggested that alcohol is losing some of its allure for the young.
Between 2002 and 2013, the percentage of underage people who drank declined from 28.8 percent to 22.7 percent. In addition, the proportion of binge drinkers — those who consumed five or more drinks during one occasion — decreased from 19.3 percent to 14.2 percent in the same years.
In additional good news, tobacco and cigarette use among all age groups has declined sharply since 2002.
Number of the Day: $132,900
The cap on Social Security payroll taxes will rise to $132,900 next year, an increase of 3.5 percent. (Earnings up to that level are subject to the Social Security tax.) The increase will affect about 11.6 million workers, Politico reports. Beneficiaries are also getting a boost, with a 2.8 percent cost-of-living increase coming in 2019.
Photo of the Day: Kanye West at the White House
This is 2018: Kanye West visited President Trump at the White House Thursday and made a rambling 10-minute statement that aired on TV news networks. West’s lunch with the president was supposed to focus on clemency, crime in his hometown of Chicago and economic investment in urban areas, but his Oval Office rant veered into the bizarre. And since this is the world we live in, we’ll also point out that West apparently became “the first person to ever publicly say 'mother-f***er' in the Oval Office.”
Trump called Kanye’s monologue “pretty impressive.”
“That was bonkers,” MSNBC’s Ali Velshi said afterward.
Again, this is 2018.
Chart of the Day: GDP Growth Before and After the Tax Bill
President Trump and the rest of the GOP are celebrating the recent burst in economic growth in the wake of the tax cuts, with the president claiming that it’s unprecedented and defies what the experts were predicting just a year ago. But Rex Nutting of MarketWatch points out that elevated growth rates over a few quarters have been seen plenty of times in recent years, and the extra growth generated by the Republican tax cuts was predicted by most economists, including those at the Congressional Budget Office, whose revised projections are shown below.
Are States Ready for the Next Downturn?
The Great Recession hit state budgets hard, but nearly half are now prepared to weather the next modest downturn. Moody’s Analytics says that 23 states have enough reserves to meet budget shortfalls in a moderate economic contraction, up from just 16 last year, Bloomberg reports. Another 10 states are close. The map below shows which states are within 1 percent of their funding needs for their rainy day funds (in green) and which states are falling short.
Chart of the Day: Evolving Price of the F-35
The 2019 National Defense Authorization Act signed in August included 77 F-35 Lightning II jets for the Defense Department, but Congress decided to bump up that number in the defense spending bill finalized this week, for a total of 93 in the next fiscal year – 16 more than requested by the Pentagon. Here’s a look from Forbes at the evolving per unit cost of the stealth jet, which is expected to eventually fall to roughly $80 million when full-rate production begins in the next few years.
