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Entries in Public Pensions (18)

Wednesday
Nov192014

ALG's Daily Grind - Obamacare's lies come crashing down 

6

Nov. 18, 2014

Permission to republish original opeds and cartoons granted.

Obamacare's lies come crashing down
Obamacare architect mocks the "stupidity" of American voters.

Cartoon: The brains of Obamacare
Obama plays dumb on who designed the health care law.

Obama cedes South Pacific to China
Micronesia suffers under Department of Interior mismanagement as China moves in.

Lifsher: California pension funds are running dry
The public pension time bomb in California is going off.

Sunday
Nov092014

Watchdog - Six-figure state pensions  

Friday
Oct032014

CEI Today: Fannie Motors, Moody's public pensions report, Obamacare ruling, and more 

Thursday, Oct. 2, 2014
In the News Today

 

PUBLIC PENSIONS - IVAN OSORIO

Moody’s $2 Trillion Public Pension Shortfall Estimate Highlights Need for Better Pension Accounting Practices

 

In a new report, Moody’s estimates the nation’s largest pension funds face a $2 trillion taken together. That’s a lot of money. But as significant as the size of the deficit is Moody’s criticism of how many pension funds have been managed, and pension fund’s reporting of their own liabilities. > Read more


> Interview Ivan Osorio

 

FANNIE MOTORS - JOHN BERLAU

Washington Free Beacon: Subprime Loans Are Back Thanks to GM

 

The banks may enjoy short-sighted profits as more cars leave the lots, but the system could come crashing down if borrowers begin to default. The trend of risky lending practices began with bailed-out GM.
 

The increase in securitization has coincided with GM’s acquisition of AmeriCredit, one of the nation’s largest subprime auto lenders, which it renamed GM Financial (GMF).
 

“It’s becoming Fannie Motors,” said Competitive Enterprise Institute finance scholar John Berlau. “They’re still using our tax dollars to break into exotic and money-losing propositions from Chevy Volts to subprime loans, both of which could literally and figuratively blow up in their faces.” > Read more

> Interview John Berlau

 

OBAMACARE RULING - SAM KAZMAN  

 

A federal court in Oklahoma ruled on Tuesday that IRS subsidies under Obamacare are illegal in states that didn't set up exchanges. CEI general counsel Sam Kazman commented on the ruling:


"Today's ruling by the federal district court in the Oklahoma Obamacare case is extremely encouraging. We are also pleased the court cited the Jonathan Gruber video, which CEI played a large role in publicizing, featuring Gruber's admission that, under the Affordable Care Act as written, states opting out of coverage would not receive federal subsidies." 


> Interview Sam Kazman
 

More in the news...

 

Can Europe Move Past Its Economic Malaise?

Are Consumers Smart Enough to Understand Airline Ancillary Fees?

 

New Mexico Workers and Industry Would Benefit from Right to Work - See more at: http://workplacechoice.org/#sthash.04F3Iq2B.dpuf
 

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Journalist Carrie Sheffield Selected as CEI’s Warren T. Brookes Journalism Fellow

 Read more

 

 





 

Friday
Mar142014

NH Senate Protects Taxpayers & Public Pension Reform Efforts

Concord, NH – The State Senate today defeated a union-backed proposal that would have rolled back recent retirement reform efforts and left local taxpayers on the hook for more than $80 million in new public-sector retirement benefits  over the next four years alone.  The bill was defeated on a party-line vote, 12-11.

“This legislation would have shifted significant new costs on to our communities and taxpayers at a time they can least afford it,” said Sen. John Reagan, R-Deerfield, a member of the Senate Executive Departments and Administration Committee.  “We value the hard work and dedication of our state’s public employees, and believe it is important to maintain a viable pension program to support them in retirement.  This bill would have severely undermined those efforts by putting further strain on our already underfunded retirement system at a tremendous cost to taxpayers.”

As introduced, Senate Bill 364 would have reversed necessary reforms made in 2011 designed to address the New Hampshire Retirement System’s (NHRS) $5.3 billion unfunded liability.  The legislation sought to reduce the retirement age for some employees and establish a new cash benefit for others on top of existing retirement benefits.  Both benefit increases would have been funded solely by taxpayers.

“It was less than three years ago that Senate Republicans won the hard-fought reforms needed to protect taxpayers and the solvency of the NHRS,” said Senate Majority Leader Jeb Bradley, R-Wolfeboro.  “Those reforms put us on a path to a financially sound pension program, and they are working.  Proposing tens of millions of dollars of new benefits at a time when the state and municipal governments are coming out of a recession is imprudent and ill-advised, and I applaud my Senate colleagues for voting down this piece of legislation today.

Tuesday
Jul232013

ALG - Detroit bankruptcy wakeup call for all Americans

July 22, 2013, Fairfax, VA—Americans for Limited Government President Nathan Mehrens today issued the following statement responding to the bankruptcy of Detroit, Mich.:

"Detroit's bankruptcy should serve as a wakeup call for all Americans.  The motor city's failure is conclusive evidence that our nation cannot continue to take for granted that we will remain the wealthiest nation in the world.  The Obama Administration plus many state and local governments continue to assume that they can engage in a full-fledged assault on our nation's job and real energy producers using both the tax code and environmental regulations, meanwhile creating an almost $3 trillion unfunded pension liability. It is nothing more than a pathway to disaster.

"Hopefully, Detroit's example will cause Americans to reject the pervasive attitude in the Obama Administration and at the state and local level that the free enterprise goose that has laid the American golden egg cannot be killed no matter how many lead weights are put around its neck."

To view online: http://getliberty.org/detroit-bankruptcy-wakeup-call-for-all-americans/

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please visit our website at www.GetLiberty.org.