Tag: pension benefits
Social Security To Run Out of Money Sooner
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...
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Do You Live in a Sunshine City or a Sinkhole City?
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...
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How to Rescue the U.S. Postal Service
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...
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Oakland City Employees Make Big Bank
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.
Post Office Has Boom Year, Loses More Money Than Ever
Privatization looks to be the only viable option.
Democrats and Republicans to Blame for Public Pension Crisis
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,...
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