American patients undergo an estimated 40 million MRI scans each year to help diagnose cancer, brain and spinal cord injuries, strokes, and heart conditions. 

The superconducting magnet-powered imaging machines provide doctors with clear, high-resolution images of areas inside the body that cannot be seen on X-rays and CT scans. However, MRI machines cannot maintain magnet cooling to generate these images without liquid helium, the Earth's coldest element. 

Three of five U.S. helium suppliers are rationing the element to prioritise life-or-death uses like MRI machines over less-essential uses like keeping party balloons afloat. 

The cost of helium has already increased by more than 400% in five years. 

Helium is essential in various stages of semiconductor manufacturing, primarily because of its high thermal conductivity and inert characteristics.

Its capacity to quickly cool chips during production renders it indispensable, significantly as semiconductor nodes shrink and become more efficient.

With emerging industries like electric vehicles and 5G telecommunications fueling semiconductor innovation, the demand for helium is expected to rise dramatically.

Helium's inert nature and ability to remain a gas even at extremely low temperatures make it ideal for pressuring liquid hydrogen and other fuel tanks in rockets, ensuring efficient fuel flow to the engines. 
 
Helium is used in cryogenic systems to maintain instruments and engines at optimal temperatures, especially in spacecraft and satellites. 
 
Helium is a purge gas to clean out rocket engines and other systems. 
 
Helium's small atomic size allows it to escape easily through even the tiniest openings, making it valuable for testing leaks in critical systems. 
 
Helium's buoyant properties are essential for high-altitude balloons in atmospheric research and communications. 
 
The Space Shuttle made extensive use of helium to pressurise various systems. 

NASA uses helium to separate hot gases from ultra-cold liquid fuel during rocket lift-off. 
 

Sourcing helium domestically or from Canada is the easiest and most economical option. Transit time is crucial: If the shipment takes 35 to 48 days, the liquid helium will evaporate. 

The two other most enormous helium reserves are in Qatar and Russia.
The U.S. hasn’t been able to tap into Russia’s helium supply because of strained trade relations and the war in Ukraine. Meanwhile, attacks on ships in the Red Sea by Yemen’s Houthi rebels have forced Qatar to send liquified natural gas shipments, which contain helium, around the Cape of Good Hope, a route that adds at least 20 days to the journey. 

There is a finite amount of helium on Earth. The largest reserves are in massive underground pockets in Algeria, Qatar, Russia, and the U.S. 

Medicare and Medicaid are two of the largest federal programs in the United States, both in terms of enrollment and expenditure. Here's an overview of their budgets:

Spending Growth: In 2022, Medicare spending increased by 5.9% to $944.3 billion, accounting for 21% of the nation's total health expenditures. 

Projected Spending: By 2023, Medicare spending will surpass $1 trillion, reflecting the program's expanding role in healthcare financing. 

Medicaid spending grew by 9.6% in 2022, reaching $805.7 billion, representing 18% of total national health expenditures. 

The increase in spending was partly due to a record-high Medicaid enrollment of 91.2 million people in 2023, driven by policy changes and economic factors. 

Together, Medicare and Medicaid constitute a significant portion of federal mandatory spending. In fiscal year 2024, the Department of Health and Human Services (HHS) proposed a budget with $1.7 trillion in mandatory funding, primarily allocated to these programs. 

Economic Projections: Over the next decade, healthcare spending is projected to grow at an average annual rate of 5.6%, outpacing the projected GDP growth of 4.3%. This trend suggests that healthcare expenditures, including those for Medicare and Medicaid, will consume more of the economy.

Medicare and Medicaid Programs were established by President Lyndon B. Johnson when he signed the Social Security Amendments of 1965 into law.

Leonard D. Schaeffer was the first director of the Health Care Financing Administration (HCFA), which later became CMS. He was appointed as HCFA’s first administrator in 1977.

Born on July 28, 1945, in Chicago, Illinois, Schaeffer grew up in Evanston, Illinois. He graduated from Princeton University in 1969. 

He served as the Deputy Director for Management at the Illinois Department of Mental Health and Developmental Disabilities, the Director of the Bureau of the Budget, and the Chairman of the Illinois Capital Development Board. 

In 1978, he was appointed Assistant Secretary for Management and Budget at the U.S. Department of Health, Education, and Welfare. At age 33, he became the first Administrator of the Health Care Financing Administration (now the Centers for Medicare & Medicaid Services), overseeing Medicare and Medicaid programs. 

Transitioning to the private sector, Schaeffer held significant roles:

In 1986, Schaeffer became President and CEO of Blue Cross of California, which was near bankruptcy. He created WellPoint Health Networks in 1993. WellPoint became a leading health benefits company. 

Student Loan Marketing Association: As Executive Vice President and Chief Operating Officer, he managed the national secondary market for student loans. 

He is currently the Judge Robert Maclay Widney Chair and Professor at the University of Southern California (USC) and is a Senior Advisor to Whistler Capital Partners, a private equity firm.

Schaeffer serves on various boards, including the Brookings Institution and RAND Corporation.