Tag: fiscal insolvency
Five Steps for Taming the Federal Spending Beast

The runaway federal spending that has accompanied the coronavirus pandemic will force a reckoning in the “mandatory” portion of the U.S. government’s budget after the pandemic has passed. That’s the assessment of AEI resident fellow James Capretta, who indicates that the reckoning will mean big changes for mandatory entitlement programs whose spending has been...
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Coronavirus Lockdowns to Cause Earlier Insolvency of Failing Public Employee Pensions

The pensions of public employees, the people who work for state or local governments, are in trouble. After years of promises by politicians—who, like public employees themselves, have done little to provide funds to pay for the generous retirement benefits—many public employee pension funds are now at increased risk of insolvency as the economy...
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Push Has Come to Shove in Some California Cities

It seems that push has come to shove in some California cities. The Stockton City Council voted to give its City Manager the green light to file for bankruptcy—which could address the problem of that city’s debt, now thought to be in the range of $25-40 million. The City’s diminished income is not up...
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Ode to the Welfare State

The following was nationally distributed in the United States by the Associated Press and appeared in the New York Daily News on Friday, November 4, 1949. The measures being referenced are those in the Fair Deal, the cradle-to-grave welfare state proposal of President Harry S Truman to follow up on Franklin Roosevelt’s New Deal...
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