Retirement

The lack of attention given to the national debt crisis by politicians, pundits, and policymakers is always disheartening to me – and it is a crisis. Make no mistake, Republicans and Democrats are guilty of contributing to this problem. The importance of responsible government spending was…

Two recent news stories paint a very different picture of targeted tax incentives. While Winston-Salem recently landed a major aircraft industry company without offering a single tax break, S.C. legislators continue to squabble over a multimillion-dollar package designed to lure the Carolina Panthers business operations south of the state line.

Unfunded pension liabilities are driving up the cost of state government borrowing. For states, there may not be much difference between Republicans and Democrats. But for local governments, Democratic control means more unfunded promises. When people voter with their feet, the problem gets worse: Today’s public-sector employees…

Andrew Biggs provides a reminder that governments are the main source of concern for future retirees’ incomes. while household retirement savings are growing, government retirement plans—Social Security, government employee pensions and the federal Pension Benefit Guaranty Corp.—are underfunded by up to $26 trillion. The World Economic Forum estimates that…

Andrew Biggs uses a National Review Online column to question a new proposal for changing Social Security. On January 31, over 200 House Democrats jointly introduced the Social Security 2100 Act, legislation that would expand Social Security both by raising the 12.4 percent payroll tax and by phasing…

“Economic growth, while necessary, is insufficient to address many of the challenges of our 21st-century economy,” Abby McCloskey writes in National Affairs. She offers some policy suggestions to improve connections in community, make work pay, and reform entitlements to improve government finances. I don’t endorse all of them, but…

Harvard economist Martin Feldstein offers Barron’s readers suggestions for addressing an unsustainable system of Social Security. If it isn’t politically possible to raise the tax rate to support future retirees with the current structure of benefits, there are only two options to avoid a collapse of the entire…

New ID cards from the State Health Plan for Teachers and State Employees made at least one teacher angry. What exactly do the cards and accompanying letter say? State government insures itself and contracts with Blue Cross Blue Shield of North Carolina to administer the program. Legislators have never…