Nest Egg Briefs: COVID-19 pandemic spending prompts massive government debt

The COVID-19 pandemic has required the U.S. government to spend a massive amount of money. There are two primary concerns. The first is whether or not the cost of the CARES Act and the other federal government rescue/stimulus spending packages could drive the U.S. government into bankruptcy. The second is the impact the mountain of federal debt will have on our children and grandchildren. (Full disclosure: I am not an economist.)

Transactions for the week of June 17

Los Altos

1663 Newcastle Drive, Fair Family Trust to E. & W. Park for $2,600,000

Congregating customers pose problems for businesses

The Post” width=
Town Crier File Photo
A group of car enthusiasts gathered in front of The Post restaurant on Main Street May 3 as they waited for their takeout, prompting some onlookers to question their social-distancing protocols. Another instances of onlookers objecting to social distancing, or lack thereof, occurred downtown over the Memorial Day weekend.

This article was updated on June 4 to correct the caption and text of the story to clarify that the social distancing police calls made downtown over Memorial Day did not involve the same diners who visited the Post on May 3.

Two calls to the Los Altos Police Department over Memorial Day weekend resulted in officers reminding the owners and patrons of the downtown Amandine lounge of the importance of social distancing.

City, agencies host webinars for local small businesses

Red Berry Coffee” width=
Ryan Molinari/Special to the Town Crier
Red Berry Coffee Bar in downtown Los Altos displays a green-checkmark verification poster and a COVID-19 social-distancing protocol form, as required by the county’s health order.

Small businesses in Los Altos continue to adjust to evolving mandates amid the lockdown, and a series of city-sponsored webinars aims to address merchants’ ongoing concerns.

Nest Egg Briefs: Keeping Medicare costs down

If you are a senior on Medicare, you may be subject to higher premiums next year due to an Income-Related Monthly Adjustment Amount (IRMAA). That’s because parts of Medicare insurance are means-tested. In other words, the more you earn, the more you have to pay. And while only approximately 7% of seniors are subject to IRMAA, understanding the structure of Medicare and your taxes can help you to plan for ways to keep those extra costs down.

Transactions for the week of June 3

Los Altos

1030 Crooked Creek Drive, Hopiak-Knourek Family Trust to L. & A. Cohen for $3,260,000

1072 Echo Drive, Maddox Trust to M. & A. Huang for $3,105,000

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