Ed O’Keefe reports at the Washington Post that the U.S. government’s postal monopoly continues to hemorrhage red ink at an astounding rate as a result of huge and unsustainable, public-employee-union pension schemes: The U.S. Postal Service reported $2.2 billion in losses during its second quarter, continuing several quarters of historic losses amid declining mail…
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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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Today, President Obama announced that his administration would freeze the pay of federal employees at their current level for two years.� Well, that’s a start, if the following chart from Political Calculations showing the relative pay and benefits of federal workers with respect to the average income earner in the private sector is any…
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Despite the threat of another mass labor protest scheduled in France tomorrow, President Sarkozy is promising the modest increase in the standard retirement age from 60 to 62 will pass the legislature. �Many of the French�protesters�are the students and youth�angry because they feel they are entitled to these “social protections”. Young people in the…
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In an incisive, recent article in the Wall Street Journal, Sara Murray reports that: “Efforts to tame America’s ballooning budget deficit could soon confront a daunting reality: Nearly half of all Americans live in a household in which someone receives government benefits, more than at any time in history. “At the same time, the…
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