The Idaho Statesman in a June 6, 2010 story extolled the efforts of Idaho’s Commerce Secretary Don Dietrich and Idaho Governor C.L. “Butch” Otter to lure Chinese investors to their state: “‘The Chinese are looking for a beachhead in the United States,’ said Idaho Commerce Secretary Don Dietrich. Idaho is ready to give them one,” the Statesman reported.
Don’t let Walker take away our rights.” That claim is repeatedly heard in Wisconsin as public-union workers try to recall Republican state Senators who voted for Governor Scott Walker’s plan to require the workers to contribute more to their retirement and healthcare costs and limit their ability to use “collective bargaining” to increase pay and benefits.
In 1987, as a freshman in college, I walked into the university library and took down a tome entitled the House of Rothschild. The book told a story of a humble Jewish family from Frankfurt that began as money lenders to the German aristocracy and expanded its wealth exponentially and geographically until its interests extended into the ruling houses of Austria, France, Italy, Switzerland, and the United Kingdom. The Austrian branch was endowed with titles and lands by the Hapsburg emperor and the British branch was similarly ennobled by Queen Victoria.
The latest study by The Pew Center on the States shows not only that states have not funded the promises they made to their employees when they retire, but that the gap between those promises and the states' contributions to pay for those promises is widening.
Edwin Vieira, Jr. is an attorney who has won three cases before the Supreme Court of the United States. He earned four degrees from Harvard University, including his doctorate. A popular speaker, he is also the author of the monumental two-volume survey of monetary history in our nation entitled Pieces of Eight. He resides in Virginia. The following interview was conducted by John F. McManus, publisher of The New American.