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.
In June 2008 the U.S. Supreme Court handed down a landmark ruling on the Second Amendment individual right to keep and bear arms with its Heller v. District of Columbia decision. Two years later, in June 2010, a second historic decision squeezed through the highest court in the land.
In 2008 the U.S. Supreme Court handed down its landmark ruling on the Second Amendments individual right to keep and bear arms in Heller v. District of Columbia. Now the question remains whether this right must be recognized by the States and their political subdivisions.