MARCH 22, 2010 How can fund managers assume an 8% rate of return? By ANDREW G. BIGGS Pension plans for state government employees today report they are underfunded by $450 billion, according to a recent report from the Pew Charitable Trusts. But this vastly underestimates the true shortfall, because public pension accounting wrongly assumes that […]
Public Pension Deficits Are Worse Than You Think Read More »
RAHN: All the president’s economists March 9, 2010 Richard W. Rahn The Congressional Budget Office, in last week’s update of President Obama’s budget forecasts, estimated that budget deficits will average nearly $1 trillion per year for the next decade. There is no school of economics (classical, Austrian, Keynesian, etc.) that says deficits of this magnitude
How About Some Resignations? Read More »
Senior Political Analyst March 7, 2010 (AP) “Stop messing with Texas!” That was the message Gov. Rick Perry bellowed on election night as he celebrated his victory over Sen. Kay Bailey Hutchison in the Republican primary for governor. In his reference to Texas’ anti-littering slogan, Perry was making a point applicable to national as well
Low-tax Texas beats big-government California Read More »
This cartoon was in the Chicago Tribune in 1934. Look carefully at the plan of action in the lower left corner. … “Those who do not remember the past are doomed to repeat it.” Thanks to Carlyn Pollack for sharing this cartoon with us.
1934 Chicago Tribune Cartoon – Still Relevant Today! Read More »
Wall Street Journal MARCH 20, 2010 States of Progress Can states balance their budgets without tax increases? America’s two newest governors are giving it a valiant try that deserves attention as they cope with record deficits and a slow economic recovery. Republicans Chris Christie (New Jersey) and Bob McDonnell (Virginia) were elected in November in
Governors Tackle Deficits Without Tax Increases Read More »
MARCH 19, 2010 By ALLAN H. MELTZER Last year the New York Times ran several articles about the end of capitalism. Others picked up this meme and reinforced it with claims that greedy bankers and deregulated financial markets had brought the world to the brink of another Great Depression. Then— just in the nick of
Market Failure or Government Failure? Read More »
MARCH 18, 2010 By PETER J. WALLISON Think ObamaCare for the financial system. That’s one way to understand Sen. Chris Dodd’s bill to reform financial regulation. If passed in its current form, the bill would give the government control over the financial system in roughly the same way, and to the same extent, that ObamaCare
If You Liked Fannie and Freddie…. Read More »
NATIONAL REVIEW ONLINE Dennis Prager March 9, 2010 12:00 A.M. Why Democrats Don’t Care about $9.7 Trillion in Debt It’s because they’re leftists, not liberals. As reported by the Washington Post: “President Obama’s proposed budget would add more than $9.7 trillion to the national debt over the next decade.” CNN adds, “Of that amount, an
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NATIONAL REVIEW ONLINE www.nationalreview.com PRINT Robert Costa March 8, 2010 4:00 A.M. Romney in the Wilderness, Waiting The former Massachusetts governor rebounds with his new book, No Apology. New York — Mitt Romney, sitting ramrod straight, is gazing up at the gleaming glass boxes on Park Avenue as we zoom through midtown Manhattan. It is
National Review Online – Mitt Romney Read More »
MARCH 6, 2010 By PETER ROBINSON During the “Strike and Day of Action to Defend Education” on Thursday, tens of thousands of students, teachers, professors and administrators marched in California and some 30 other states to protest cuts in education spending. David Patterson, a librarian at Cañada College, a community college in Redwood City, proved
WSJ – The Golden State’s Me Generation Read More »
