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Written by : Adalberto Wickstrom |
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it is Sunday night it's 10 o'clock thanks so much for watching Queen City News I'm Derek Dellinger and we begin tonight with these six magic numbers that you see right behind me they are magic because they never became realized that no one got all six of these numbers right and now a 1.9 billion dollar jackpot is up for grabs that's right billion with a B that money has some lines forming at some spots but as Queen City news reporter Sydney highberger tells us the reason this is a record-breaking jackpot might actually surprise you what would you do with almost 2 billion dollars I'd probably pay off the rest of our debt the rest of my family's debt uh maybe Splurge you know on a nice home or a pool or something like that it's a question people around the country are thinking about as the Powerball hits its largest jackpot in history I was like that's up to almost 2 billion take home would be substantial so why not and employees here at Adams Mart in Ballantyne said they've had customers flocking to the register trying to press their luck because they've sold three different million dollar tickets this year alone we've been having the lines long all the way over here but the reason this Jack pot is the highest ever isn't just because no one has won yet it's because of high interest rates the annuity prize is paid out over 29 years through government bonds which pick up interest with high interest rates the lottery can offer a higher annuity payment it's also why the one-time cash payout option of 929 million is significantly less either way I think the options are endless with that kind of money and as for whether atomsmart will bring home another winner to be honest I have no idea but we're a lucky store so maybe we have a possibility yes Sydney heiberger who and here's a look at no those winning numbers yet again 28 45 53 56 69 and 20 for the Powerball again the next drawing is tomorrow night at 11 o'clock you can watch the drawing on our sister station wmyt that's Channel 12 on Spectrum Channel 55 over antenna well we all dream of what we would do if we hit the jackpot but the odds well unfortunately they are really stacked against you one in a million no even higher the probability of winning is determined by the number of combinations that are possible for you to pick numbers with on the ticket but only one will guarantee you that mass surprise mathematicians break it down as quite frankly the longest shot there is I want to think about the winning ticket as a DOT on a piece of paper so on my piece of paper here I have 2 000 dots if the winning ticket is one dot out of the piece of paper you would need to be one dot out of a hundred and forty six thousand pieces of paper so there you go if you really want to win here's how it would work there's over 292 million different combinations you could buy and if you were to buy them at a rate of one per second it would take you a little over nine years to fill out those tickets even buying one thousand tickets per second which is not even possible would take three whole days Non-Stop and even though no one did match the numbers there were several that did come close here in North Carolina and Asheboro and Greensboro to 150 000 winners came close six other tickets also got a fifty thousand dollar prize across the state but none were in our viewing area
Thanks for your comment Darnell Laisure, have a nice day.
- Adalberto Wickstrom, Staff Member
in our Spotlight on Business Report tonight the state's been working toward fully funding the public Workers pension fund after it was sorely underfunded for decades but as the state's Financial contribution grows year after year the burdens also falling onto County and Municipal governments to meet their share of those payments combine that with Rising health care costs and you have the age-old problem of property taxes potentially rising in New Jersey I have budget and finance reporter John reitmeyer here with me to talk it all through John thanks so much for being with us today how will the state's burden to fully fund the pension system really end up kind of pushing that burden onto municipalities yeah in this case it's it's really a lot of factors coming into play that's causing these costs to go up and you know part of it is the the state has been trying to be more responsible in terms of how much it expects investment that the pension fund is involved in to bring in in terms of returns and and moving down those expectations but part of the uh response to that is you have to expect more than to be contributed by the government employers and so that's that's part of what hap what's happening it could be that a lot of government employers are awarding raises to help their employees keep up with inflation and so that could be increasing pensionable salaries all of a lot of factors in play but really the bottom line is it's delivering some pretty big year-over-year increases to an area of government that's already facing a lot of pressure on funding employee benefits on the health insurance side so yeah just coming in a very difficult time yeah to that point right we are seeing seeing that insurance premiums are are increasing pretty dramatically and so that too uh for for municipalities now to have to cover the the increases to health costs health care costs um how are they handling those increases kind of combined well right now they're asking for help from the state and there's a bill in the legislature that we're keeping an eye on that would carve out some of the state's Federal pandemic relief money and apply it to helping offset these Rising health insurance costs that County and Municipal governments across New Jersey are facing in some cases 20 increases year over year and so that's one way that they're trying to get ready for this but also warning that you know this puts pressure on property taxes property taxes are already really high in New Jersey whether you rent or you own in some ways you're paying them and so they're already warning that you know all of these costs are going to put pressure on property taxes when those bills go out next year well there is a two percent cap rate on how much municipalities can increase property property taxes year over year but is there a loophole for these expenses the pension and health care costs yet not exactly a loophole so when the when the two percent cap wall was put in place about a decade or so ago it included some exceptions to help governments you know get give them some flexibility one of the areas that that is accepted is costs for employee health benefits and pensions and so that's exactly this this area that we're seeing the the pressure applied right now and so politically they may not want to go over that two two percent cap so you can see Cuts in other areas but mechanically they can go over that two percent cap to fund these costs as they rise so fair to say New Jersey homeowners might see an increase in their property taxes this year over two percent that's fair to say or maybe some cut back in Services as they try to manage the budgets better John reitmeyer thanks for breaking it down for us as always you're welcome support for the business report provided by New Jersey American Water we keep life flowing online at new jerseyam.com and by njtia's New Jersey conference on tourism December 1st and 2nd at Resorts Casino Hotel in Atlantic City Event information online at njtia.org thank you
Thanks Dell your participation is very much appreciated
- Adalberto Wickstrom
About the author
I've studied computer graphics at Rhode Island College in Providence and I am an expert in ordinary differential equations. I usually feel hyper. My previous job was dispatcher (safety vehicles) I held this position for 18 years, I love talking about qigong and ocarina playing. Huge fan of Penn Badgley I practice alpine skiing and collect autographs.
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