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Don't Repeat Costly Policy Mistakes with Employer-Provided Pensions
The risk that the nation’s pension insurance system will become untenable continues to climb, threatening dire future choices between widespread worker benefit losses and a taxpayer-financed bailout....
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Defining the Baseline Down
Click here for a printer-friendly version of this article.When defending the Administration’s economic record, the President and his supporters try to deflect blame for the slow and halting nature of...
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ECB Actions are Borne of Necessity
In recent months, both the U.S. Federal Reserve and European Central Bank (ECB) have embraced additional unconventional policy measures to address chronic problems plaguing their respective economies....
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Riordan's federal pension bailout
Former Los Angeles Mayor Richard Riordan, who has been a prescient critic of current state and local pension plans, published a piece earlier this week in the New York Times with former journalist Tim...
View ArticleThe Real Reason Pols and Bureaucrats Oppose Airline Mergers
When the federal government moved last week to block the merger of American Airlines and US Airways on antitrust grounds, officials in several states joined the federal suit. Not surprisingly, states...
View ArticleMore Bankruptcies Won’t Solve Cities’ Crises
In debating the meaning of Detroit’s collapse, commentators on the right and the left have found evidence for the benefits of municipal bankruptcy as a way to put distressed cities back on track.“More...
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Dodd-Frank: Too Convoluted to Succeed
This article appears in the Autumn 2013 issue of City Journal.Five years ago this September, the Lehman Brothers investment bank collapsed. Markets around the world froze until Western governments...
View ArticleHas the Federal Reserve Learned to be an Effective Lender of Last Resort in...
OriginsThe Federal Reserve was established a century ago in large part to serve as a lender of last resort to allay the financial instability of the National banking era and especially to avoid panics...
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Public employees unions help boost state debt crisis
Federal government debt of $18 trillion represents just a fraction of America's total debt. States hold an additional $5 trillion in liability, of which $4.4 trillion represents debt for pensions and...
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Should We Care About Rising Income Inequality?
The following is an excerpt from Economics21's new inequality primer, Income Inequality: Myths and Facts.Among commentators today, primarily on the left, there is a sense that President Obama put it...
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Warning: Disability Insurance Is Hitting the Wall
Teaser: For years Social Security’s trustees (of which I am one) have warned that lawmakers must act to address the troubled finances of the program’s disability insurance (DI) trust fund. Congress...
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Europe’s Greek Miscalculation
Teaser: In September 2008, US policymakers were caught flatfooted by the Lehman bankruptcy as they grossly miscalculated the fallout from that event. Today, European policymakers would seem to be...
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The Ex-Im Bank Must Go
Teaser: If the GOP is to maintain its legitimacy as the party of the free market, it must not reauthorize Ex-Im. Conservatives should not sit by and watch while corporate welfare continues to skew the...
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The State of America’s Auto Union
Teaser: The American auto industry and the UAW have had a long-standing relationship. Yet, with labor agreements set to expire this September, it might be time for the UAW to move in a new direction....
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Congress is About to Botch International Tax Reform
Teaser: The Portman-Schumer international tax reform framework fails to address underlying problems with the American corporate tax system that must be dealt with in any comprehensive reform package. A...
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