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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Research Fellow John C. Goodman, author of Priceless: Curing the Healthcare Crisis, on CNBC's "The Kudlow Report" discussing Obamacare's promised cost savings and the reality that millions will pay more for health insurance.
Twenty years ago, Americans witnessed the greatest law enforcement atrocity in modern U.S history. On February 28th, 1993, the ATF raided the Branch Davidian home in Waco, Texas. The stand-off finally ended 51 days later, on April 19th, after the building went up in flames, killing 70 civilians including more than 20 children. Reflections by Independent Institute Research Fellow Anthony Gregory.