On June 17, 2014, Sr. Fellow Lawrence McQuillan spoke at an event for supporters of the Independent Institute. Dr. McQuillan spoke about Californias state pension system, a topic he writes about frequently, including in his forthcoming book California Dreamin: Resolving the Public Pension Crisis.
First he defines the types of pension programs for state employees, he outlined how funding for the programs is not sustainable for the promises made to pension recipients. The state admits to an unfunded liability of $140 billion, but McQuillan says that is actually an underestimate. According to most economists, the true amount of the unfunded liability is $430 billion.
How did this happen? McQuillan explains and offers six solutions to keep the pension systems solvent.
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Sr. Fellow John C. Goodman, author of Priceless: Curing the Healthcare Crisis, testified before the House Oversight and Government Reform Committee regarding risk corridorsthe Obamacare program that provides a bailout for insurance companies when premiums dont cover costs. Goodman says insurers will run away from the sick and insure the healthy, in what he calls "A race to the bottom."
Sr. Fellow and author of Priceless: Curing the Healthcare Crisis, John C. Goodman, appeared on the Lou Dobbs Tonight show on Fox Business News network. Goodman discusses the reasons why Obamacare in its current form, is on a so-called "Death Spiral" and must be replaced with a free market system that eliminates a mandate to purchase insurance.