Fiscal Policy
….why not us? According to the Wall Street Journal: Government employees on average have higher pay and bigger benefits than the private-sector employees who support them with taxes. This has become a well known fact. When private firms run extended losses—spending more money than they take in—their employees must share in the necessary adjustments. But…
Thanks to President Obama’s stimulus package, RI’s 86th Congressional District has netted $10.2 million in aid and has had 58 jobs created (or saved)! The district, which encompasses the Williams and Franklin households in Ashaway, was given funds based on a proposal to open a low footprint, “green” factory for the manufacture of 100% eco-friendly…
This can’t be a good sign. They’re now making fun of Rhode Island in New Jersey, that bastion of good government practices, because of our inept pension fund management. John Bury of the nj.com website writes that…Rhode Island’s public pension plans are a basket case. They were 50% funded before the market collapse and bankruptcy…
Power Line on Taking the National Debt Seriously Stephen Spruiell on Obamacare Dissected: Ten things that probably will be in the health-care bill (but shouldn’t) Kevin Williamson on Real Health-Care Reform: Ten things that ought to be in the health-care bill (but probably won’t) Veronique de Rugy on Elinor Ostrom and the Essence of Economics…
This was the reaction last hour by Glenn Beck’s producer Stu upon being told that Treasury Secretary Timothy Geithner had requested (on Friday – do you suppose they were trying to minimize media attention?) that Congress raise the national debt ceiling. It is critically important that Congress act before the limit is reached so that…
Given the numbers reported in this Los Angeles Times story from today…California’s two huge government pension funds reported whopping annual losses today of about one-quarter of their portfolios. The California Public Employees’ Retirement System, the largest in the nation, today posted a preliminary drop of $56.2 billion for the fiscal year ended June 30. The…
A defined benefit pension system, like any retirement system, only works if there’s enough money in it to fund what needs to be paid out. Seems straightforward, right? Alas, not if you’re a progressive. That’s why they simultaneously push ideas like these, via a recently recycled Pat Crowley post at RI Future…87% believe all workers…
According to numbers put out by the Congressional Budget Office…President Obama’s economic stimulus package will increase the debt burden on American taxpayers by over $6,100 per household ($719 billion in debt, divided by about 117 million households) by 2011.The total package of spending and revenue changes enacted by Congress between January and March of this…
Steve Peoples serves reminder in today’s Projo that the passing of a supplemental budget hardly even qualifies as round one in Rhode Island’s continuing fiscal crisis…The business-backed Rhode Island Public Expenditure Council analyzed both sets of out-year figures and concluded that the legislature’s projections — showing an average annual deficit of $462 million through 2014…
Commentators on the evolving Obama presidency: Charles Krauthammer: Obama proposes a European U.S. Not a great speech, but extremely consequential. If Barack Obama succeeds, his joint address to Congress will be seen as historic — indeed as the foundational document of Obamaism. As it stands, it constitutes the boldest social democratic manifesto ever issued by…
