While the public is told the preconceived COVID-19 pandemic is a calamity of unfolding proportion, that emanates from a deadly mutated virus that appears to have been “invented” in a laboratory and targets octogenarians in particular, and the proposed antidote is mandated vaccination that may have more heinous consequences than the virus itself, there is another faction that sees this catastrophe differently. Those who know what this pandemic is really all about – insurance actuaries. It’s about balancing the accounting books. It is why progressive globalists tell us we need a reset – a financial reset. It’s really all about … Continue reading →
Prediction: Biden s Answer To The Medicare Trust Fund Insolvency Is Hidden In His Budget Proposal
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For best viewing, re-open your browser and link to this graphic so you can view it side-by-side with my commentary. The above graphic leaves every American with much to think about. If we are to view the world of political thought AS LEFT/ PROGRESSIVE/ LIBERAL vs. RIGHT/ CONSERVATIVE/ TRADITIONALIST, where do we fit in the above chart? More so, writing for a libertarian website as I do, where does libertarianism fit into the American political spectrum? Did you consciously choose which faction you belong to? Standing on two sides of the fence Libertarians aren’t described in the above chart per … Continue reading →
We’ve been exploring the state of retirement in the United States on
The Long View. Last week, we talked with progressive labor economist Teresa Ghilarducci. On this week’s episode, we chatted with Andrew Biggs, resident scholar at the American Enterprise Institute. He is more sanguine about the state of retirement in the U.S., though he is also in favor of some reforms. Andrew is an expert on Social Security reform, state and local government pensions, and public sector pay and benefits. Before joining AEI, Biggs was the principal deputy commissioner of the Social Security Administration, where he oversaw the agency s policy research efforts. In 2005, as an associate director of the White House National Economic Council, he worked on Social Security reform. In 2001, he joined the staff of then-President George W. Bush s Commission to Strengthen Social Security. He holds a bachelor s degree from Queen s University Belfast in Northern Ireland, master s degrees from Cambridge Uni
Bad news: The Social Security Trust Fund is on track to be wiped out by 2034.
More bad news: Unfunded state government pension liabilities in neighboring Illinois totaled $317 billion in mid-2020âthe worst in the nation when measured against a stateâs gross domestic product, according to Moody Investors Service.
Great news: Wisconsinâs public pension system, administered by the Department of Employee Trust Funds (ETF) with assets managed by the State of Wisconsin Investment Board (SWIB), is one of the best-funded pension systems in the nation.
A National Association of Retirement Administrators survey ranked Wisconsinâs ETF and the retirement systems of South Dakota and Tennessee at or above 100% funded.
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