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.
Environmental quality has been a major public concern since the first Earth Day in 1970, yet the maze of environmental regulations enacted since has fostered huge government bureaucracies better known for waste and failure than for innovation and success.
For millennia, farmers all over the world have bred crops for their resistance to disease, productivity, and nutritional value. Today, few topics have the power to inspire as much international furor and misinformation as the development and distribution of genetically altered foods.