Over at Reason Magazine, Veronique de Rugy illuminates the State Pension problem by drawing attention to the differences in accounting rules applied by the market and the government. As de Rugy notes, states are not required to pony up regular contributions to pension systems and they systematically underestimate the liabilities in pension funds. State…
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San Jose City Councilman Pete Constant wants to answer his office phone but the City Hall employees’ union says he should not be allowed to do so. The union has taken the Councilman to court, attempting to force him to hire someone else to be his administrative assistant and answer phones for $70,000 a…
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In The Hill, Jason Millman reports that the the number of organizational waivers issued by the Obama administration from the Patient Protection and Affordable Care Act (Obamacare) has now reached 1,040. What the article does not discuss is that those receiving such waivers overwhelmingly include major government-employee unions such as the Service Employees International…
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In an article in Politico, Brett Coughlin reports that the Government Accountability Office (GAO) estimates that at least 10% of all Medicare payments (a minimum of $48 billion) are fraudulent and that the federal Centers for Medicare and Medicaid Services (CMS) are unable even to identify an estimate of the degree of improper payments….
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What if we treated the U.S. government as if it were an actual business in assessing its fiscal situation?� Mary Meeker of Bloomberg BusinessWeek did just that, performing an accounting audit of the government’s finances and operations, in which she arrived at a pretty dire conclusion: The bottom line on USA Inc.? Cash flow…
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The General Accountability Office (GAO) released a new report early Tuesday morning, identifying billions of dollars currently being spent on “duplicate federal programs”. �How does this happen? It’s simple, really. When a bureaucratic body fails to be efficient and accomplish the objectives of it’s charter, our enlightened, pork-loving representatives in Washington simply finance a…
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