An underfunded pension plan can be compared to the welfare state in America: Beneficiaries are going to be sorely disappointed.
Progressives in Seattle suffer from a blind spot — economic reality — that is causing exactly the opposite reaction to their new minimum-wage policy than anticipated.
The Social Security and Medicare Board of Trustees stated that “Social Security’s Disability Insurance (DI) Trust Fund now faces an urgent threat of reserve depletion, requiring prompt corrective action by lawmakers if sudden reductions or interruptions in benefit payments are to be avoided.”
The State of Texas is setting up a gold-backed bank that will allow depositors to bypass the controversial Federal Reserve System and its fiat currency in banking and commerce, according to the state representative who authored the recently enacted law.
As part of what experts call a war on tax competition and low taxes, a coalition of high-tax governments from around the world is working to erect a radical new planetary taxation regime that would crush what remains of financial privacy and national sovereignty while seriously harming the global economy. The controversial plot, led by the Organization for Economic Cooperation and Development (OECD) and the G-20 group of governments and dictators, is already encountering opposition from lawmakers, industry, and liberty-minded non-profit organizations. However, with the Obama Treasury Department and other key players apparently already on board with the anti-tax-competition scheming, opponents are warning that Congress must get involved if the plan is to be stopped. Some critics say it is time to end U.S. funding for the “destructive” OECD, too.
Is there gold at Fort Knox? Has the Federal Reserve sold it in order to manipulate the economy? An audit might answer these questions.
In its just-released report “The 2015 Long-Term Budget Outlook,” the Congressional Budget Office stated bluntly that the long-term outlook for the federal budget has worsened dramatically.
Seattle, Los Angeles, and many other cities are passing minimum-wage laws; however, history has shown that wages and prices should be set by the free market, not by government.
It's to be hoped that common sense prevails in Topeka. It's far too soon to end the experiment which would quash the economic revival in Kansas.