| Monday September 6, 2021 at 10:45 AM PDT
The trust fund that sustains a large portion of the Social Security benefits American seniors rely upon will run out of money in 2033. The trust fund will be depleted a year earlier than forecast a year ago. That’s the verdict of Social Security’s trustees, who point to the “precipitous” effect of the coronavirus...Read More »
| Friday February 28, 2020 at 8:04 AM PST
Truth in Accounting has released its 2020 report on the Financial State of the Cities, which ranks the fiscal friendliness of the 75 most populous cities in the country according to their Taxpayer Burden or their Taxpayer Surplus. Here’s how the nonprofit fiscal watchdog group describes how it determines whether a city imposes a...Read More »
| Monday January 20, 2020 at 11:35 AM PST
The government-run U.S. Postal Service began in 2020 with a dubious track record. It has lost money in each of the past 13 years. In 2019, USPS made $514 million more in revenue than it did in its previous fiscal year, thanks to increases in postage rates and its package delivery business. But the...Read More »
| Wednesday October 2, 2019 at 4:12 PM PDT
In February 2019, Oakland was facing a two-year budget deficit of $43 million, with the city’s expenditures rising far faster than its revenues.
| Tuesday November 27, 2018 at 12:30 PM PST
Privatization looks to be the only viable option.
Lawrence J. McQuillan
| Wednesday August 5, 2015 at 5:20 PM PDT
I’ve appeared on more than 70 television and radio talk shows coast-to-coast in the past three months to discuss my new book California Dreaming: Lessons on How to Resolve America’s Public Pension Crisis. One common question has been: “Aren’t Democrats responsible for creating the unfunded public pension debt by over-promising pension benefits?” My answer,...Read More »