Researchers at Harvard and Dartmouth Universities have concluded that since 2000, the projected health of the Social Security trust fund has been rosier than it actually is. The official word from the Trustees report is that the Social Security trust fund will be exhausted in 2033, meaning that benefits would have to be cut by 25 […]
Tag: "Unfunded Liabilities"
When I retired, Medicare became my primary health insurance, fully covered by American taxpayers (and federal debt-holders), while Anthem/Blue Cross became my secondary health insurance, fully covered by the University of California. I will never have to spend a nickel of my Social Security benefits or inflation-adjusted defined retirement income on my health insurance. But […]
If Sen. Dianne Feinstein’s (D-Ca.) assault weapons bill is not enough of a kneejerk reaction to the Newtown shooting, Chicago is playing its part in contributing to the lack of common sense measures as well — by hurting its employee pension system. The board of Chicago’s Municipal Employees’ Annuity and Benefit Fund voted to divest […]
It”s less than four days away from the fiscal cliff. But unlike the recent Mayan prophecy, the cliff will really happen. Tax cuts will expire and discretionary spending will be cut automatically. And of course, we will reach the debt c eiling sooner rather than later. There are many obvious things wrong with this picture, […]
I watched last night’s State of the Union address in hopeful anticipation that all taxpayers, from individuals to small business owners to multinational corporations, could look forward to a fairer, more simplified system. No such luck. Much of the speech was spent pointing out who or what is to blame for the sluggish economy, income […]